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- USD/INR is currently trading around 70.81 marks.
- It made intraday high at 70.96 and low at 70.72 marks.
- Intraday bias remains neutral for the moment.
- Key resistances are seen at 71.02, 71.18, 71.50, 71.71, 72.02, 72.32 and 72.47 marks respectively.
- On the other side, initial supports are seen at 70.65, 70.49, 70.23, 69.82, 69.60 and 69.35 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 70.65, stop loss at 71.02 and target of 70.23.
