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FxWirePro: GBP/NZD stuck in range but outlook is bullish 
- USD/INR is currently trading around 70.70 marks.
- It made intraday high at 70.85 and low at 70.63 marks.
- Intraday bias remains neutral for the moment.
- Key resistances are seen at 70.90, 71.05, 71.40, 72.02, 72.24, 72.50 and 72.86 marks respectively.
- On the other side, initial supports are seen at 70.63, 70.43, 70.22, 69.69, 69.02, 68.65 and 68.15 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 0.05 percent higher at 10,633.58 points while BSE Sensex was trading 0.12 points higher at 35,397.55 points.
We prefer to take short position on USD/INR only below 70.63, stop loss at 70.90 and target of 70.43.
