- USD/INR is currently trading around 67.44 marks.
- It made intraday high at 67.55 and low at 67.27 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 67.86 mark.
- Key resistances are seen at 67.86, 67.97, 68.10, 68.50, 68.68, 68.83 and 68.98 marks respectively.
- On the other side, initial supports are seen at 67.25, 67.02, 66.80, 66.68, 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 0.34 percent higher at 10,652.80 points while BSE Sensex was trading 0.38 points higher at 35,039.88 points.
- India will release GDP as well as infrastructure output data around 1200 GMT.
We prefer to take long position in USD/INR only above 67.55, stop loss at 67.25 and target of 68.10.
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