- USD/INR is currently trading around 69.30 marks.
- It made intraday high at 69.42 and low at 69.25 marks.
- Intraday bias remains slightly bearish for the moment.
- Key resistances are seen at 69.52, 69.85, 70.20, 70.52, 70.85, 70.97, 71.23 and 71.51 marks respectively.
- On the other side, initial supports are seen 69.25, 69.02, 68.60, 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.
- India’s NSE was trading 0.45 pct lower at 11,853.55 points and BSE Sensex was trading 0.44 pct lower at 39,581.79 points.
- India will release trade balance, current account as well as balance of payment data around 1130 GMT.
We prefer to take short position on USD/INR only below 69.25, stop loss 69.52 and target of 69.02/68.87.
