- USD/INR is currently trading around 69.50 marks.
- It made intraday high at 69.61 and low at 69.37 marks.
- Intraday bias remains neutral till the time pair holds key support at 69.37 mark.
- Key resistances are seen at 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 39.37, 69.22, 68.92, 68.49, 67.88 and 67.67 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- India’s NSE was trading 0.25 pct higher at 11,827.55 points and BSE Sensex was trading 0.30 pct higher at 39,557.79 points.
We prefer to take short position on USD/INR only below 69.37, stop loss 69.70 and target of 69.02.