2016.05.0200:40:00UTC+00Fxwirepro: Usd/inr Breaks Key Support at 66.32, Good to Sell on Rallies

• USD/INR is currently trading at 66.32 marks.
   
• It made intraday high at 66.41 and low at 66.32 levels.
   
• Intraday bias remains bearish for the moment.
   
• A daily close below 66.32 will take the parity down around key supports at 66.10/65.95/65.81 marks respectively.
   
• On the other side, key resistance levels are seen at 66.48/66.72/ 66.86/ 66.95/ 67.15 levels.
   
• Today India will release Nikkei market manufacturing PMI data at 0500 GMT.
   
• In addition, Indian stock markets are trading on a lower note. As BSE Sensex was trading 0.71% lower at 25,428 while NSE Nifty fell by 0.73% to 7,792 points.

We prefer to take short position in USD/INR only below 66.30, stop loss 66.72 and target 66.05 marks.