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- Pair is currently trading at 68.15 levels.
- It made intraday high at 68.35 and low at 68.14 levels.
- Yesterday India released its Union budget 2016, which put higher impact on Country's stock as well as currency market.
- Today BSE Sensex was trading 2.44% higher at 23565 levels and NSE Nifty was trading 2.55% higher at 7164 levels.
- Intraday bias remains bearish for the moment.
- A daily close above 68.38 will turn the bias bullish again.
- Alternatively, current downfall will take the parity towards 67.75 levels.
- Key support levels are seen at 68.00, 67.75 and 67.45 levels.
- Resistance levels are seen at 68.38, 68.52 and 68.78 levels.
We prefer to take short position in USD/INR around 68.25, stop loss 68.52 and target 67.78 levels.
