USD/INR breaks key support at 66.93, likely to sell on rallies

• USD/INR is currently hovers around 67.00 marks.
   
• It made intraday high at 67.02 and low at 66.88 levels.
   
• Intraday bias remains bearish for the moment.
   
• A daily close below 66.93 will take the parity back below 66.50 levels.
   
• On the other side, sustained close above 67.23 will turn the bias bullish again.
   
• Key support levels are seen at 66.93, 66.58 and 65.97 levels.
   
• Resistance levels are seen at 67.23, 67.51 and 67.78 levels.
   
• India will release WPI inflation data within few minutes. This will provide further direction to the parity.

We prefer to take short position in USD/INR around 67.10, stop loss 67.51 and target 66.58 marks.