FxWirePro: USD/INR takes halt around 68.34 mark, upside limited

• USD/INR is currently trading around 68.62 marks.
   
• It made intraday high at 68.68 and low at 68.34 marks.
   
• Intraday bias remains neutral for the moment.
   
• Key resistances are seen at 68.68, 68.95, 69.32, 69.70, 69.98, 70.20, 70.51, 70.68 and 70.85 marks respectively.
   
• On the other side, initial supports are seen at 68.34, 67.88 and 67.67 marks respectively.

• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• India’s NSE Nifty was trading around 0.22 percent higher at 11,488.58 points while BSE Sensex was trading 0.30 points higher at 38,209.87 points.

We prefer to take short position on USD/INR around 68.90, stop loss at 69.32 and target of 68.34/67.88.