- USD/INR is currently trading around 66.35 marks.
- It made intraday high at 66.60 and low at 66.34 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 66.60 mark.
- Key resistances are seen at 66.60, 67.20 and 67.48 marks respectively.
- On the other side, initial supports are seen at 66.16, 65.98, 65.75, 65.54, 65.38, 65.12, 64.87, 64.70, 64.60 and 64.42 marks respectively.
- 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.
- India’s NSE Nifty was trading around 0.15 percent higher at 10,594.80 points while BSE Sensex was trading 0.34 points higher at 34,568.95 points.
We prefer to take short position in USD/INR only below 66.20, stop loss at 66.60 and target of 65.75.
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