- USD/INR is currently trading around 69.96 marks.
- It made intraday high at 70.06 and low at 69.83 marks.
- Intraday bias remains bearish for the moment.
- Key resistances are seen at 70.08, 70.22, 70.51, 70.68 and 70.85 marks respectively.
- On the other side, initial supports are seen at 69.82, 69.60 and 69.35 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 0.06 percent higher at 11,060.58 points while BSE Sensex was trading 0.20 points higher at 36,708.87 points.
We prefer to take short position on USD/INR around 70.05, stop loss at 70.25 and target of 69.60.
