- USD/INR is currently trading around 67.76 marks.
- It made intraday high at 67.79 and low at 67.61 marks.
- Intraday bias remains neutral till the time pair holds key support at 67.55 mark.
- Key resistances are seen at 67.91, 68.15, 68.26, 68.49, 68.63, 68.72, 68.85 and 69.52(August, 2013 high) marks respectively.
- On the other side, initial supports are seen at 67.55, 67.22, 66.82, 66.68, 66.50, 66.28, 66.10, 65.95 and 65.81 marks respectively.
- In addition, India’s NSE Nifty was trading around 0.19 percent higher at 8,158.25 points and BSE Sensex was trading at 0.22 percent higher at 26,441.57 points.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- RBI will release monetary policy at 0830 GMT.
We prefer to take short position in USD/INR around 67.85, stop loss 68.02 and target of 67.55/67.22.