- USD/INR is currently trading around 66.98 marks.
- It made intraday high at 67.11 and low at 66.95 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 67.11 mark.
- Key resistances are seen at 67.11, 67.34, 67.55, 67.97, 68.10, 68.50, 68.68, 68.83 and 68.98 marks respectively.
- On the other side, initial supports are seen at 66.80, 66.68, 66.42, 66.30 and 66.16 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- India’s NSE Nifty was trading around 0.57 percent higher at 10,653.80 points while BSE Sensex was trading 0.52 points higher at 35,101.88 points.
- RBI will release interest rate decision at 0900 GMT.
We prefer to take long position in USD/INR only above 67.11, stop loss at 66.80 and target of 67.55.
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