- USD/INR is currently trading around 68.53 marks.
- It made intraday high at 68.87 and low at 68.42 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 68.87 mark.
- Key resistances are seen at 68.87, 69.18, 69.52 and 69.88 marks respectively.
- On the other side, initial supports are seen at 68.35, 68.14, 67.97, 67.79 and 67.59 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- India’s NSE Nifty was trading around 0.58 percent higher at 10,650.80 points while BSE Sensex was trading 0.56 points higher at 35,234.88 points.
We prefer to take long position on USD/INR around 68.48, stop loss at 68.35 and target of 68.87/69.18.
