FxWirePro: USD/INR rejects key support at 69.46 mark, good to sell on rallies

• USD/INR is currently trading around 69.67 marks.
   
• It made intraday high at 69.76 and low at 69.46 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 69.46 mark.
   
• Key resistances are seen at 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 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 up and confirms the bullish trend in a daily chart.
   
• India’s NSE was trading 0.45 pct lower at 11,780.55 points and BSE Sensex was trading 0.53 pct lower at 39,393.79 points.

We prefer to take short position on USD/INR around 69.75, stop loss 70.00 and target of 69.46/69.22/68.92.