FxWirePro: USD/INR trades in narrow range, further sideways movement likely

• USD/INR is currently trading around 68.53 marks.
   
• It made intraday high at 68.66 and low at 68.45 marks.
   
• Intraday bias remains slightly bullish till the time pair holds eky support at 68.34 mark.
   
• 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.

We prefer to take short position on USD/INR only below 68.34, stop loss at 68.68 and target of 67.88.