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- USD/INR is currently trading around 72.38 marks.
- It made intraday high at 72.40 and low at 71.68 marks.
- Intraday bias remains bullish for the moment.
- Key resistances are seen at 72.42, 72.68, 72.89 and 73.55 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 2.88 pct lower at 11,300.85 points and BSE sensex 2.75 pct lower at 38,643.10 points.
We prefer to take long position on USD/INR around 72.20, stop loss at 71.62 and target of 72.89/73.12.
