- USD/INR is currently trading around 69.62 marks.
- It made intraday high at 69.70 and low at 69.53 marks.
- Intraday bias remains neutral till the time pair holds immediate resistance at 69.75 mark.
- Key resistances are seen at 69.75, 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’s NSE was trading 0.65 pct lower at 11,422.55 points and BSE Sensex was trading 0.66 pct lower at 38,025.79 points.
We prefer to take long position on USD/INR only above 69.70, stop loss 69.40 and target of 70.20.
