- USD/INR is currently trading around 68.53 marks.
- It made intraday high at 68.58 and low at 68.47 marks.
- Intraday bias remains neutral for the moment.
- Key resistances are seen at 68.58, 68.82, 68.99, 69.18, 69.52 and 69.88 marks respectively.
- On the other side, initial supports are seen at 68.47, 68.34, 68.14, 67.97, 67.79 and 67.59 marks respectively.
- 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 NSE Nifty was trading around 0.06 percent higher at 10,706.80 points while BSE Sensex was trading 0.05 points higher at 35,394.88 points.
- India June 2018 Nikkei markit services PMI increase to 52.6.
- India Nikkei/IHS markit composite June PMI (manufacturing and services) rose to 53.3 (50.4 in May); highest since Oct 2016.
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.
