- USD/INR is currently trading around 68.62 marks.
- It made intraday high at 68.77 and low at 68.59 marks.
- Intraday bias remains slightly bearish till the time pair holds immediate ressitance at 68.85 marks.
- Key resistances are seen at 68.85 and 69.52(August 2013 high) marks respectively.
- On the other side, initial supports are seen at 69.29, 67.99, 67.72, 67.59, 67.22, 66.82, 66.68, 66.50, 66.28, 66.10, 65.95 and 65.81 marks respectively.
- In addition, India’s NSE Nifty was trading around 0.48 percent lower at 7,995.10 points and BSE Sensex was trading at 0.39 percent lower at 25,951.08 points.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position in USD/INR around 68.45, stop loss 67.29 and target of 68.85/69.52.
