- USD/INR is currently trading around 68.28 marks.
- It made intraday high at 68.63 and low at 68.15 marks.
- Intraday bias remains slightly bearish till the time pair holds immediate resistance at 68.77 marks.
- Key resistances are seen at 68.85 and 69.52(August, 2013 high) marks respectively.
- On the other side, initial supports are seen at 68.08, 67.99, 67.72, 67.59, 67.22, 66.82, 66.68, 66.50, 66.28, 66.10, 65.95 and 65.81 marks respectively.
- In addition, India’s NSE Nifty was trading around 0.74 percent higher at 8,025.10 points and BSE Sensex was trading at 0.39 percent higher at 25,962.08 points.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take short position in USD/INR around 68.30, stop loss 68.77 and target of 67.99/67.82.
