- USD/INR is currently trading around 70.52 marks.
- It made intraday high at 70.67 and low at 70.49 marks.
- Intraday bias remains bearish till the time pair holds immediate resistance at 70.85 mark.
- Key resistances are seen at 70.85, 70.97, 71.23 and 71.51 marks respectively.
- On the other side, initial supports are seen at 70.30, 69.98, 69.80, 69.46, 69.22, 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 was trading 0.10 pct lower at 10,135.55 points and BSE Sensex was trading 0.07 pct lower at 37,064.79 points.
We prefer to take long position on USD/INR only above 70.67, stop loss 70.30 and target of 70.97/71.23.
