USD/INR hits fresh 2–month low, likely to fall further

• Pair is currently trading at 66.73 levels.
   
• It made intraday high at 66.95 and low at 66.72 levels.
   
• Intraday bias remains bearish for the moment.
   
• Pair hits fresh 2- month low and likely to break key support at 66.51 marks.
   
• A sustained break below 66.51 will drag the parity towards 66.17 levels.
   
• Alternatively, a daily close above 67.10 is required to turn the bias bullish again.
   
• Initial resistances are seen at 67.51, 67.78 and 67.91 levels thereafter.
   
• On the down side, key support levels are seen at 66.68, 66.51 and 66.17 levels.

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.