- USD/INR is currently trading around 71.10 marks.
- It made intraday high at 71.10 and low at 70.80 marks.
- Intraday bias remains bullish till the time pair holds key support at 70.72 mark.
- Key resistances are seen at 71.28, 71.78 and 72.23 marks respectively.
- On the other side, initial supports are seen at 70.72, 70.47, 70.10, 69.63, 69.16, 68.85, 68.66, 68.52 and 68.31 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- India will release WPI inflation data around 0630 GMT.
We prefer to take long position on USD/INR around 71.00, stop loss 70.70 and target of 71.78.
