- USD/INR is currently trading around 68.91 marks.
- It made intraday high at 68.98 and low at 68.64 marks.
- Intraday bias remains slightly bullish till the time pair holds key support at 68.49 mark.
- Key resistances are seen at 69.06, 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 68.49, 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 0.16 percent lower at 11,625.58 points while BSE Sensex was trading 0.20 points lower at 38,809.87 points.
- RBI will release repo rate decision around 0615 GMT.
We prefer to take short position on USD/INR around 69.10, stop loss 69.30 and target of 68.53/68.34.
