- USD/INR is currently trading around 66.30 marks.
- It made intraday high at 66.48 and low at 66.23 marks.
- Intraday bias remains bearish till the time pair holds immediate resistance at 66.72 marks.
- Key resistances are seen at 66.72, 66.87, 66.96, 67.05, 67.16, 67.28, 67.52, 67.71, 67.84, 67.95, 68.02, 68.35(March 1, 2016 high), 68.46, 68.66 and 68.78 marks respectively.
- On the other side, initial supports are seen at 66.28, 66.10, 65.95 and 65.81 marks respectively.
- In addition, India’s NSE Nifty was trading around 1.59 percent higher at 8,566.10 points and BSE Sensex was trading at 1.41percent higher at 27,631.46 points.
- 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 in USD/INR around 66.35, stop loss 66.52 and target of 66.10/65.95.
