- USD/INR is currently trading around 69.98 marks.
- It made intraday high at 70.01 and low at 69.93 marks.
- Intraday bias remains neutral till the time pair holds immediate support at 69.87 mark.
- Key resistances are seen at 70.20, 70.51, 70.68 and 70.85 marks respectively.
- On the other side, initial supports are seen at 69.87, 69.52, 69.38, 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.
We prefer to take short position on USD/INR only below 69.87, stop loss 70.10 and target of 69.52.
