- USD/INR is currently trading around 70.73 marks.
- It made intraday high at 70.86 and low at 70.69 marks.
- Intraday bias remains neutral till the time pair holds key support at 70.68 mark.
- Key resistances are seen at 71.02, 71.11, 71.34, 71.80, 72.17, 72.42, 72.68 and 72.89 marks respectively.
- On the other side, initial supports are seen at 70.68, 70.47, 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 Nifty was trading 0.30 pct higher at 11,623.10 points and BSE Sensex was trading 0.32 pct higher at 39,088.78 points.
We prefer to take short position on USD/INR around 70.80, stop loss 71.02 and target of 70.47/70.10.
