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- USD/INR is currently trading at 66.30 marks.
- It made intraday high at 66.39 and low at 66.27 levels.
- Intraday bias remains bearish for the moment.
- A daily close below 66.22 will drag the parity down towards 66.17, 65.96 and 65.67 levels thereafter.
- Alternatively, reversal from 66.38 will take the parity up around key resistances at 66.86/67.18/67.37 levels respectively.
- RBI will announce interest rate decision on April 5. This will provide further direction to the parity.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
