- USD/INR is currently trading around 72.43 marks.
- It made intraday high at 72.58 and low at 72.35 marks.
- Intraday bias remains slightly bearish for the moment.
- Key resistances are seen at 72.66, 72.85, 73.02, 73.24 and 73.66 marks respectively.
- On the other side, initial supports are seen at 72.03, 71.68, 71.47, 71.33, 71.13, 70.63, 70.47, 70.22 and 69.94 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- India’s NSE Nifty was trading around 0.06 percent higher at 11,383.28 points while BSE Sensex was trading 0.10 points higher at 37,623.82 points.
We prefer to take long position on USD/INR around 72.40, stop loss at 72.03 and target of 73.02.