- USD/INR is currently trading around 69.52 marks.
- It made intraday high at 69.54 and low at 69.18 marks.
- Intraday bias remains bullish till the time pair holds key support at 68.95 mark.
- Key resistances are seen at 69.52, 69.82, 69.98, 70.20, 70.51, 70.68 and 70.85 marks respectively.
- On the other side, initial supports are seen at 69.18, 68.95, 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. Current upside movement is short term trend correction only.
- India’s NSE Nifty was trading around 0.16 percent higher at 11,615.58 points while BSE Sensex was trading 0.20 points higher at 38,684.87 points.
We prefer to take long position on USD/INR around 69.40, stop loss 69.18 and target of 69.82.
