- USD/INR is currently trading around 68.43 marks.
- It made intraday high at 68.47 and low at 68.34 marks.
- Intraday bias remains neutral till the time pair holds key support at 68.34 mark.
- Key resistances are seen at 68.70, 68.82, 68.94, 69.05, 69.18, 69.52 and 69.88 marks respectively.
- On the other side, initial supports are seen at 68.34, 68.15, 67.97, 67.79 and 67.59 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- India’s NSE Nifty was trading around 0.26 percent higher at 11,480.22 points while BSE Sensex was trading 0.38 points higher at 38,030.82 points.
We prefer to take short position on USD/INR only below 68.34, stop loss at 68.70 and target of 68.15.
