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FxWirePro: USD/INR hits fresh 3-week low at 69.67 mark, faces immediate support at 69.47 mark

  • USD/INR is currently trading around 69.93 marks.
     
  • It made intraday high at 70.16 and low at 69.67 marks.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 70.48 mark.
     
  • Key resistances are seen at 70.28, 70.48, 70.86, 71.06 and 71.48 marks respectively.
     
  • On the other side, initial supports are seen at 69.66, 69.47, 69.02, 68.65 and 68.15 marks respectively.
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
     
  • India’s NSE Nifty was trading around 0.35 percent higher at 10,948.58 points while BSE Sensex was trading 0.23 points higher at 36,432.55 points.

We prefer to take short position on USD/INR around 70.00, stop loss at 70.48 and target of 69.47/69.02.

  • Market Data
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