FxWire Pro: USD/INR rejects key support at 69.30 mark, upside limited

• USD/INR is currently trading around 69.46 marks.
   
• It made intraday high at 69.49 and low at 69.30 marks.
   
• Intraday bias remains slightly bullish for the moment.
   
• 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 69.30, 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 0.42 pct higher at 11,893.55 points and BSE Sensex was trading 0.46 pct higher at 39,610.79 points.

We prefer to take short position on USD/INR around 69.50, stop loss 69.85 and target of 69.30/68.92/68.49.