- USD/INR is currently trading around 68.88 marks.
- It made intraday high at 69.06 and low at 68.80 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 69.52 mark.
- Key resistances are seen at 69.52, 69.70, 69.98, 70.20, 70.51, 70.68 and 70.85 marks respectively.
- On the other side, initial supports are seen at 68.87, 68.34, 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 0.28 percent higher at 11,745.58 points while BSE Sensex was trading 0.44 points higher at 39,226.87 points.
We prefer to take short position on USD/INR around 68.94, stop loss 69.10 and target of 68.53/68.34.
