- USD/INR is currently trading around 69.38 marks.
- It made intraday high at 69.48 and low at 69.37 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 69.34, 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 0.20 pct higher at 11,946.55 points and BSE Sensex was trading 0.24 pct higher at 39,885.79 points.
We prefer to take short position on USD/INR around 69.40, stop loss 69.52 and target of 69.02.
