- USD/INR is currently trading around 66.75.
- It made intraday high at 66.78 and low at 66.71 marks.
- Intraday bias remains neutral till the time pair holds key resistance at 66.84 marks.
- A daily close below 66.54 will take the parity down around key supports at 66.42(May 01, 2016 low) /66.32 (November 2015 low) /66.23/66.10/65.95/65.81 marks respectively.
- On the other side, key resistance levels are seen at 66.84 (55D EMA)/ 66.95/ 67.17 (December 14, 2015 high) levels respectively.
- In addition, Indian stock markets are trading on a negative note. As BSE Sensex was trading 0.84% lower at 25,573 while NSE Nifty down by 0.87% to 7,831 points.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
