FxWirePro: Indian rupee trades marginally higher ahead of trade balance, current account data

• USD/INR is currently trading around 69.30 marks.
   
• It made intraday high at 69.42 and low at 69.25 marks.
   
• Intraday bias remains slightly bearish for the moment.
   
• Key resistances are seen at 69.52, 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 69.25, 69.02, 68.60, 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’s NSE was trading 0.45 pct lower at 11,853.55 points and BSE Sensex was trading 0.44 pct lower at 39,581.79 points.
   
• India will release trade balance, current account as well as balance of payment data around 1130 GMT.

We prefer to take short position on USD/INR only below 69.25, stop loss 69.52 and target of 69.02/68.87.