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- USD/INR is currently trading around 66.74 marks.
- It made intraday high at 66.79 and low at 66.69 marks.
- Intraday bias remains bearish till the time pair holds immediate resistance at 66.85 marks.
- Key resistances are seen at 66.85, 67.04, 67.34, 67.52, 67.71, 67.84, 67.95, 68.02, 68.35(March 1, 2016 high), 68.46, 68.66 and 68.78 marks respectively.
- On the other side, initial supports are seen at 66.62, 66.42(May 01, 2016 low), 66.32 (November 2015 low), 66.23, 66.10, 65.95 and 65.81 marks respectively.
- In addition, India’s BSE Sensex was trading 0.49 percent higher at 28,141.18 and NSE Nifty up by 0.41 percent at 8,669.25 points.
We prefer to take short position in USD/INR around 66.78, stop loss at 67.08 and target of 66.42.
