FxWirePro: USD/INR back below 68.50 mark, bias remains bearish

• USD/INR is currently trading around 68.47 marks.
   
• It made intraday high at 68.61 and low at 68.47 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 68.55 mark.
   
• Key resistances are seen at 68.80, 69.10, 69.38, 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 at 68.47, 68.37, 67.88 and 67.26 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 0.04 pct lower at 11,551.55 points and BSE Sensex was trading 0.03 pct lower at 38,720.44 points.

We prefer to take short position on USD/INR around 68.50, stop loss 68.80 and target of 67.88.