- USD/INR is currently trading around 69.38 marks.
- It made intraday high at 69.44 and low at 69.34 marks.
- Intraday bias remains slightly bearish for the moment.
- Key resistances are seen at 69.52, 69.85, 70.20, 70.52, 70.85, 70.97, 71.23 and 71.51 marks respectively.
- On the other side, initial supports are seen 69.34, 69.02, 68.60, 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.
- India’s NSE was trading 0.64 pct lower at 11,890.55 points and BSE Sensex was trading 0.65 pct lower at 39,694.79 points.
- India will release manufacturing output, industrial output as well as CPI inflation data around 1200 GMT.
We prefer to take short position on USD/INR only below 69.34, stop loss 69.52 and target of 69.02.