- USD/INR is currently trading around 69.27 marks.
- It made intraday high at 69.28 and low at 69.02 marks.
- Intraday bias remains slightly bullish for the moment.
- Key resistances are seen at 69.40, 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 69.02, 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. Current upside movement is short term trend correction only.
We prefer to take short position on USD/INR around 69.30, stop loss 69.50 and target of 69.02/68.60.
