- USD/INR is currently trading around 69.60 marks.
- It made intraday high at 69.65 and low at 68.28 marks.
- Intraday bias remains bullish till the time pair holds key support at 69.28 mark.
- Key resistances are seen at 69.70, 69.98, 70.20, 70.51, 70.68 and 70.85 marks respectively.
- On the other side, initial supports are seen at 69.28, 68.92, 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 0.18 percent lower at 11,644.58 points while BSE Sensex was trading 0.08 points lower at 38,834.87 points.
We prefer to take long position on USD/INR around 69.50, stop loss 69.28 and target of 69.98.
