• FxWirePro: Indian Rupee trades marginally lower ahead of wpi inflation data

    المصدر: FxWire Pro - Technicals / 13 ديسمبر 2019 01:40:50   America/New_York

    • USD/INR is currently trading around 70.63 marks.
       
    • It made intraday high at 70.71 and low at 70.44 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 70.45 mark.
       
    • Key resistances are seen at 70.96, 71.22, 71.52, 71.70, 71.82, 72.05, 72.17, 72.42, 72.68 and 72.89 marks respectively.
    • On the other side, initial supports are seen at 70.47, 70.32, 70.10, 69.76 and 69.48 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
       
    • India’s NSE was trading 0.53 pct higher at 12,034.40 points and BSE sensex points 0.62 pct higher at 40,832.33 points.
       
    • India will release WPI inflation data around 0630 GMT.

    We prefer to take short position on USD/INR around 70.80, stop loss at 70.96 and target of 70.44/70.10/69.76 mark.

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