- USD/INR is currently trading around 68.72 marks.
- It made intraday high at 68.77 and low at 68.55 marks.
- Intraday bias remains bullish till the time pair holds key support at 68.55 mark.
- Key resistances are seen at 68.80, 69.10, 69.38, 69.85, 70.20, 70.52, 70.85, 70.97, 71.23 and 71.51 marks respectively.
- On the other side, initial supports are seen at 68.55, 68.37, 67.88 and 67.26 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
- India’s NSE was trading 0.82 pct lower at 11,462.55 points and BSE Sensex was trading 0.73 pct lower at 38,439.44 points.
We prefer to take long position on USD/INR around 68.70, stop loss 68.55 and target of 69.10/69.38.
