FxWirePro: USD/INR hits fresh 2-month low at 68.91 mark, India’s infrastructure output data in focus

• USD/INR is currently trading around 68.95 marks.
   
• It made intraday high at 69.06 and low at 68.91 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 69.50 mark.
   
• Key resistances are seen at 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 68.92, 68.49, 67.88 and 67.67 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 higher at 11,834.55 points and BSE Sensex was trading 0.10 pct lower at 39,570.79 points.

We prefer to take short position on USD/INR around 69.00, stop loss 69.40 and target of 68.49.