FxWirePro: USD/INR trades flat at 68.80 mark, further sideways movement likely

• USD/INR is currently trading around 68.80 marks.
   
• It made intraday high at 68.83 and low at 68.74 marks.
   
• Intraday bias remains neutral till the time pair holds key resistance at 68.90 mark.
   
• Key resistances are seen at 69.10, 69.38 and 69.85 marks respectively.

• On the other side, initial supports are seen at 68.66, 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.
   
• India’s NSE was trading 0.60 pct lower at 11,018.55 points and BSE Sensex was trading 0.58 pct lower at 37,180.55 points.

We prefer to take long position on USD/INR only above 68.90, stop loss 68.70 and target of 69.10/69.38.