- USD/INR is currently trading around 69.60 marks.
- It made intraday high at 69.75 and low at 69.57 marks.
- Intraday bias remains slightly bearish till the time pair holds immediate resistance at 69.80 mark.
- Key resistances are seen at 69.80, 70.20, 70.51, 70.68 and 70.85 marks respectively.
- On the other side, initial supports are seen at 69.52, 69.38, 69.22, 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.
- India will release manufacturing PMI data around 0500 GMT.
We prefer to take short position on USD/INR around 69.65, stop loss 69.80 and target of 69.22.
