- USD/INR is currently trading around 68.61 marks.
- It made intraday high at 68.95 and low at 68.54 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 69.32 mark.
- Key resistances are seen at 68.95, 69.32, 69.70, 69.98, 70.20, 70.51, 70.68 and 70.85 marks respectively.
- On the other side, initial supports are seen at 68.56, 68.34, 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.
- India’s NSE Nifty was trading around 0.19 percent higher at 11,448.58 points while BSE Sensex was trading 0.18 points higher at 38,091.87 points.
We prefer to take short position on USD/INR around 68.70, stop loss at 69.00 and target of 67.88.
