- USD/INR is currently trading around 69.58 marks.
- It made intraday high at 69.71 and low at 69.48 marks.
- Intraday bias remains bearish for the moment.
- Key resistances are seen at 69.90, 70.08, 70.28, 70.64, 70.80, 71.05, 71.40, 72.02, 72.24, 72.50 and 72.86 marks respectively.
- On the other side, initial supports are seen at 69.34, 69.02, 68.65 and 68.15 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 0.12 percent higher at 10,871.58 points while BSE Sensex was trading 0.16 points higher at 36,228.55 points.
We prefer to take short position on USD/INR around 69.65, stop loss at 70.08 and target of 69.34.
