- USD/INR is currently trading around 66.72 marks.
- It made intraday high at 66.77 and low at 66.64 marks.
- Intraday bias remains bearish till the time pair holds immediate resistance at 67.05 marks.
- Key resistances are seen at 66.98, 67.05, 67.34, 67.52, 67.71, 67.84, 67.95, 68.02, 68.35(March 1, 2016 high), 68.46, 68.66 and 68.78 marks respectively.
- On the other side, initial supports are seen at 66.62, 66.42(May 01, 2016 low), 66.32 (November 2015 low), 66.23, 66.10, 65.95 and 65.81 marks respectively.
- In addition, India’s BSE Sensex was trading 0.62 percent lower at 27,911.18 and NSE Nifty down by 0.94 percent at 8,595.70 points.
- Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend.
We prefer to take short position in USD/INR around 66.75, stop loss at 66.98 and target of 66.42.


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