- USD/INR is currently trading around 70.48 marks.
- It made intraday high at 70.64 and low at 70.41 marks.
- Intraday bias remains neutral for the moment.
- Key resistances are seen at 70.68, 70.85, 71.02, 71.18, 71.50, 71.71, 72.02, 72.32 and 72.47 marks respectively.
- On the other side, initial supports are seen at 70.33, 70.08, 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 0.42 percent higher at 11,033.58 points while BSE Sensex was trading 0.36 points higher at 36,575.87 points.
We prefer to take short position on USD/INR only below 70.40, stop loss at 70.70 and target of 70.08.
