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FxWirePro: USD/INR hovers around key resistance at 69.32 mark, sustained close above requires for upside rally

  • USD/INR is currently trading around 69.13 marks.
     
  • It made intraday high at 69.32 and low at 69.07 marks.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 69.32 mark.
     
  • Key resistances are seen at 69.32, 69.70, 69.98, 70.20, 70.51, 70.68 and 70.85 marks respectively.
     
  • On the other side, initial supports are seen at 68.87, 68.34, 67.88 and 67.67 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 0.91 percent lower at 11,353.58 points while BSE Sensex was trading 0.95 points lower at 37,800.87 points.

We prefer to take short position on USD/INR only below 69.00, stop loss at 69.32 and target of 68.87/68.60.

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