FxWirePro: USD/INR hits fresh weekly low at 69.55 mark, consistent close below targets 69.02 mark

• USD/INR is currently trading around 69.65 marks.
   
• It made intraday high at 69.65 and low at 69.55 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 70.57 mark.
   
• Key resistances are seen at 70.22, 70.57, 70.86, 71.06 and 71.48 marks respectively.
   
• On the other side, initial supports are seen at 69.47, 69.02, 68.65 and 68.15 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 Nifty was trading around 0.36 percent higher at 10,899.22 points while BSE Sensex was trading 0.30 points higher at 36,181.58 points.

We prefer to take short position on USD/INR around 69.70, stop loss at 69.90 and target of 69.47/69.02.