- USD/INR is currently trading around 69.47 marks.
- It made intraday high at 69.56 and low at 69.19 marks.
- Intraday bias remains bullish till the time pair holds immediate support at 69.10 mark.
- Key resistances are seen at 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 will release services PMI data around 0500 GMT.
We prefer to take short position on USD/INR around 69.70, stop loss 69.90 and target of 68.92.
