FxWirePro: Indian rupee falls sharply against U.S. dollar, hits lowest level since May 23

• USD/INR is currently trading around 68.52 marks.
   
• It made intraday high at 68.56 and low at 68.35 marks.
   
• Intraday bias remains bullish the time pair holds key support at 67.97 mark.
   
• Key resistances are seen at 68.58, 68.69, 68.83 and 68.98 marks respectively.
   
• On the other side, initial supports are seen at 67.97, 67.79, 67.59, 67.46, 67.38 and 67.02 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 Nifty was trading around 0.32 percent lower at 10,732.80 points while BSE Sensex was trading 0.18 points lower at 35,429.88 points.

We prefer to take long position on USD/INR around 68.48, stop loss at 68.32 and target of 68.83.