• USD/INR is currently trading around 67.35 marks.
   
• It made intraday high at 67.34 and low at 67.21 marks.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 67.12 marks.
   
• Key resistances are seen at 67.45, 67.66, 67.87, 67.99, 68.15, 68.32, 68.49, 68.63, 68.72, 68.85 and 69.52(August, 2013 high) marks respectively.
   
• On the other side, initial supports are seen at 67.12, 66.95, 66.82, 66.68, 66.50, 66.28, 66.10, 65.95 and 65.81 marks respectively.
   
• In addition, India’s NSE Nifty was trading around 0.10 percent lower at 8,726.70 points and BSE Sensex was trading at 0.08 percent higher at 28,259 points.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
   
• India’s January Nikkei markit services PMI increase to 48.7 vs previous 46.8.
  
  We prefer to take short position on USD/INR around 67.40, stop loss at 67.65 and target of 67.12/66.82.