- USD/INR is currently trading around 68.85 marks.
- It made intraday high at 68.91 and low at 68.76 marks.
- Intraday bias remains bullish till the time pair holds key support at 68.70 mark.
- Key resistances are seen at 69.10, 69.38 and 69.85 marks respectively.
- On the other side, initial supports are seen at 68.70, 68.52, 68.31, 68.12, 67.88, 67.47, 67.26 and 66.60 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 was trading 0.21 pct lower at 11,260.55 points and BSE Sensex was trading 0.04 pct lower at 37,875.55 points.
We prefer to take short position on USD/INR only below 68.70, stop loss 69.10 and target of 68.31.
