- USD/INR is currently trading around 69.87 marks.
- It made intraday high at 69.91 and low at 69.80 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 70.22 mark.
- Key resistances are seen at 70.22, 70.57, 70.86, 71.06 and 71.48 marks respectively.
- On the other side, initial supports are seen at 69.87, 69.66, 69.47, 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 0.80 percent higher at 10,866.22 points while BSE Sensex was trading 0.87 points higher at 36,117.58 points.
We prefer to take short position on USD/INR around 70.00, stop loss at 70.22 and target of 69.67/69.47/69.02.


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