- USD/INR is currently trading around 69.57 marks.
- It made intraday high at 69.70 and low at 69.52 marks.
- Intraday bias remains bearish for the moment.
- Key resistances are seen at 69.98, 70.20, 70.51, 70.68 and 70.85 marks respectively.
- On the other side, initial supports are seen at 69.35, 69.02 and 68.82 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 0.90 percent higher at 11,270.58 points while BSE Sensex was trading 0.93 points higher at 37,400.87 points.
- India will release CPI, industrial output as well as manufacturing output data around 1200 GMT.
We prefer to take short position on USD/INR around 69.65, stop loss at 70.00 and target of 69.02.
