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FxWirePro :GBP/AUD gains some ground but bias is still bearish 
- USD/INR is currently trading around 70.54 marks.
- It made intraday high at 70.57 and low at 70.33 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 71.22 mark.
- Key resistances are seen at 71.22, 71.37, 71.75, 72.02, 72.32 and 72.47 marks respectively.
- On the other side, initial supports are seen at 70.23, 69.82, 69.60 and 69.35 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 Nifty was trading around 0.31 percent higher at 10,864.58 points while BSE Sensex was trading 0.38 points higher at 36,289.55 points.
We prefer to take short position on USD/INR around 70.80, stop loss at 71.22 and target of 70.23/69.82.
