- USD/INR is currently trading around 68.08 marks.
- It made intraday high at 68.14 and low at 68.06 marks.
- Intraday bias remains neutral till the time pair holds key support at 67.99 marks.
- Key resistances are seen at 68.32, 68.49, 68.63, 68.72, 68.85 and 69.52(August, 2013 high) marks respectively.
- On the other side, initial supports are seen at 67.99, 67.85, 67.67, 67.50, 67.32, 67.26, 67.19, 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 0.15 percent lower at 8,628.70 points and BSE Sensex was trading at 0.04 percent lower at 27,872 points.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- India will release Union Budget for the year is on February 1, 2017.
We prefer to take short position on USD/INR around 68.10, stop loss at 68.26 and target of 67.99/67.85.
