FxWirePro: Indian rupee strengthens on higher than expected manufacturing PMI data

• USD/INR is currently trading around 69.39 marks.
   
• It made intraday high at 69.52 and low at 69.35 marks.
   
• Intraday bias remains slightly bearish for the moment.
   
• Key resistances are seen at 69.85, 70.20, 70.52, 70.85, 70.97, 71.23 and 71.51 marks respectively.

• On the other side, initial supports are seen 69.30, 68.92, 68.49, 67.88 and 67.67 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   

We prefer to take short position on USD/INR around 69.40, stop loss 69.55 and target of 68.92.