- USD/INR is currently trading around 70.95 marks.
- It made intraday high at 70.97 and low at 70.88 marks.
- Intraday bias remains bullish till the time pair holds key support at 70.65 mark.
- Key resistances are seen at 71.05, 71.22, 71.52, 71.70, 71.82, 72.05, 72.17, 72.42, 72.68 and 72.89 marks respectively.
- On the other side, initial supports are seen at 70.64, 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 0.63 pct higher at 12,131.40 points and BSE sensex points 0.70 pct higher at 41,220.33 points.
We prefer to take long position on USD/INR only above 71.05, stop loss at 70.64 and target of 71.22/71.52 mark.
