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FxWirePro: Indian rupee trades almost flat against U.S. dollar, bias remains neutral

  • USD/INR is currently trading around 68.61 marks.
     
  • It made intraday high at 68.72 and low at 68.53 marks.
     
  • Intraday bias remains neutral till the time pair holds key support at 68.34 mark.
     
  • Key resistances are seen at 68.68, 68.95, 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 68.34, 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 0.33 percent higher at 11,558.58 points while BSE Sensex was trading 0.36 points higher at 38,524.87 points.

We prefer to take short position on USD/INR only below 68.45, stop loss at 68.68 and target of 67.88.

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