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- USD/INR is currently trading around 69.84 marks.
- It made intraday high at 69.94 and low at 69.62 marks.
- Intraday bias remains slightly bullish till the time pair holds key support at 69.35 mark.
- Key resistances are seen at 69.95, 70.22, 70.57, 70.86, 71.06 and 71.48 marks respectively.
- On the other side, initial supports are seen at 69.35, 69.02, 68.65 and 68.15 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take short position on USD/INR around 69.90, stop loss at 70.57 and target of 69.02.
