- USD/INR is currently trading around 71.70 marks.
- It made intraday high at 71.70 and low at 71.59 marks.
- Intraday bias remains slightly bullish till the time pair holds key support at 71.47 mark.
- Key resistances are seen at 71.82, 72.05, 72.17, 72.42, 72.68 and 72.89 marks respectively.
- On the other side, initial supports are seen at 71.47, 71.36, 71.11, 70.92, 70.74, 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 0.02 pct lower at 11,992.40 points and BSE Sensex 0.01 points pct lower at 40,667.22 points.
- India Nikkei services PMI stands at 52.7 vs 49.2 previous release (expected 49.8).
We prefer to take long position on USD/INR around 71.65, stop loss at 71.47 and target of 71.82/72.05 mark.
