- USD/INR is currently trading around 69.30 marks.
- It made intraday high at 69.45 and low at 69.22 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 69.52 mark.
- Key resistances are seen at 69.52, 69.82, 69.98, 70.20, 70.51, 70.68 and 70.85 marks respectively.
- On the other side, initial supports are seen at 69.28, 68.92, 68.49, 67.88 and 67.67 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- India’s NSE Nifty was trading around 0.20 percent higher at 11,647.58 points while BSE Sensex was trading 0.22 points higher at 38,853.87 points.
We prefer to take short position on USD/INR around 69.35, stop loss 69.52 and target of 68.92.
