- USD/INR is currently trading around 69.43 marks.
- It made intraday high at 69.52 and low at 69.35 marks.
- Intraday bias remains slightly bullish till the time pair holds immediate support at 69.35 mark.
- Key resistances are seen at 69.52, 69.75, 69.87, 70.20, 70.51, 70.68 and 70.85 marks respectively.
- On the other side, initial supports are seen at 69.22, 68.92, 68.49, 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. Current upside movement is short term trend correction only.
- India’s NSE was trading 0.15 pct higher at 11,614 points and BSE Sensex was trading 0.26 pct higher at 38,699.79 points.
We prefer to take short position on USD/INR only below 69.35, stop loss 69.75 and target of 68.92/68.49.
