- USD/INR is currently trading around 68.01 marks.
- It made intraday high at 68.30 and low at 67.97 marks.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 68.15 mark.
- Key resistances are seen at 68.15, 68.50, 68.68, 68.83 and 68.98 marks respectively.
- On the other side, initial supports are seen at 67.83, 67.46, 67.38, 67.02, 66.82, 66.42, 66.30 and 66.16 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- India’s NSE Nifty was trading around 0.10 percent lower at 10,807.80 points while BSE Sensex was trading 0.06 points lower at 35,595.88 points.
We prefer to take long position in USD/INR around 67.94, stop loss at 67.80 and target of 68.50.