FxWirePro: USD/INR hovers around 70.00 mark, good to sell on rallies

• USD/INR is currently trading around 69.96 marks.
   
• It made intraday high at 70.15 and low at 69.94 marks.
   
• Intraday bias remains bearish till the time pair holds immediate resistance at 70.30 mark.
   
• Key resistances are seen at 70.15, 70.51, 70.68 and 70.85 marks respectively.
   
• On the other side, initial supports are seen at 69.80, 69.46, 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.
   
• India’s NSE was trading 0.02 pct higher at 11,304.55 points and BSE Sensex was trading 0.10 pct higher at 37,584.79 points.

We prefer to take short position on USD/INR around 70.00, stop loss 70.15 and target of 69.46.