- USD/INR is currently trading around 71.86 marks.
- It made intraday high at 72.05 and low at 71.80 marks.
- Intraday bias remains neutral till the time pair holds key resistance at 72.05 mark.
- Key resistances are seen at 72.05, 72.17, 72.42, 72.68 and 72.89 marks respectively.
- On the other side, initial supports are seen at 71.47, 71.22, 71.10, 70.90, 70.68, 70.47, 70.32, 70.10, 69.76 and 69.48 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- India’s NSE was trading 1.38 pct lower at 11,913.85 points and BSE sensex was trading 1.26 pct lower at 40,652.43 points.
We prefer to take long position on USD/INR only above 72.05, stop loss at 71.70 and target of 72.42/72.68.