- USD/INR is currently trading at 67.6050 levels.
- It made intraday high at 67.76 and low at 67.59 levels.
- Intraday bias remains neutral till the time pair holds key support level at 67.50.
- A daily close below 67.50 will drag the parity towards 67.11/66.24 levels.
- Alternatively, reversal from key support level will take the parity above 68.0 marks.
- Expected short term trading range for USD/INR is 67.50 to 68.78 levels.
- In addition, Indian stock market continues to trade higher on the 2nd consecutive day. NSE Nifty was trading 1.94% higher to 7362 while BSE Sensex was trading 1.82% higher at 24,213 point.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
