- Pair is currently trading at 68.62 levels.
- It made intraday high at 68.74 and low at 68.58 levels.
- A daily close above 68.82 will turn the bias bullish and drag the parity towards multiyear low above 69.22 levels.
- Alternatively, current downfall will take the parity back below 68.50 and 68.00 thereafter.
- Key resistance levels falls at 68.78, 69 and 69.22 levels.
- On the down side, key support levels are seen at 68.47, 68.18 and 68.00 thereafter.
- The key event for the day is Indian budget, which will give clear direction for the short term movement.
We prefer to take short position in USD/INR above 68.70, stop loss 68.92 and target 68.48 levels.
