FxWire Pro: Indian rupee trades almost flat against U.S. dollar, further sideways movement likely

• USD/INR is currently trading around 69.60 marks.
   
• It made intraday high at 69.66 and low at 69.47 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 69.50 mark.
   
• Key resistances are seen at 69.85, 70.20, 70.52, 70.85, 70.97, 71.23 and 71.51 marks respectively.

• On the other side, initial supports are seen at 69.50, 69.22, 68.92, 68.49, 67.88 and 67.67 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• India’s NSE was trading 0.21 pct higher at 11,720.55 points and BSE Sensex was trading 0.23 pct higher at 39,197.79 points.
   

We prefer to take short position on USD/INR only below 69.47, stop loss 69.85 and target of 69.22/68.92.