FxWirePro: Indian rupee rises drastically against U.S. dollar, hits highest level since June 2018

• USD/INR is currently trading around 68.22 marks.
   
• It made intraday high at 68.31 and low at 68.12 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 68.31 mark.
   
• Key resistances are seen at 68.31, 68.55, 68.80, 69.10, 69.38 and 69.85 marks respectively.

• On the other side, initial supports are seen at 67.88, 67.47, 67.26 and 66.60 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. 
   
• India’s NSE was trading 0.32 pct higher at 11,536.55 points and BSE Sensex was trading 0.40 pct higher at 38,679.44 points.

We prefer to take short position on USD/INR around 68.25, stop loss 68.55 and target of 67.88.