- USD/INR is currently trading around 69.99 marks.
- It made intraday high at 70.04 and low at 69.85 marks.
- Intraday bias remains bullish till the time pair holds immediate support at 69.85 mark.
- Key resistances are seen at 70.04, 70.20, 70.51, 70.68 and 70.85 marks respectively.
- On the other side, initial supports are seen at 69.85, 69.52, 69.38, 69.22, 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. Current upside movement is short term trend correction only.
- India’s NSE Nifty was trading around 0.21 percent higher at 11,600.28 points while BSE Sensex was trading 0.18 points higher at 38,641.87 points.
We prefer to take long position on USD/INR around 69.95, stop loss 69.65 and target of 70.51/70.68.


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