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- USD/INR is currently trading around 71.58 marks.
- It made intraday high at 71.86 and low at 71.56 marks.
- Intraday bias remains neutral for the moment.
- Key resistances are seen at 71.90, 72.17, 72.42, 72.68 and 72.89 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 0.11 pct higher at 12,139.85 points and BSE sensex 0.15 pct higher at 41,369.43 points.
We prefer to take short position on USD/INR only below 71.47, stop loss at 71.90 and target of 70.90/70.68.
