FxWirePro: USD/INR fails to fall below 69.22 mark, short term trend reversal likely

• USD/INR is currently trading around 69.43 marks.
   
• It made intraday high at 69.46 and low at 69.25 marks.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 69.25 mark.
   
• Key resistances are seen at 69.46, 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 69.22, 68.92, 68.49, 67.88 and 67.67 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• India’s NSE was trading 0.05 pct lower at 11,694.55 points and BSE Sensex was trading 0.08 pct lower at 39,091.79 points.

We prefer to take long position on USD/INR only above 69.50, stop loss 69.25 and target of 69.85/70.02.