- USD/INR is currently trading around 70.73 marks.
- It made intraday high at 70.80 and low at 70.57 marks.
- Intraday bias remains neutral till the time pair holds key resistance at 71.22 mark.
- Key resistances are seen at 71.22, 71.46, 71.80, 72.17, 72.42, 72.68 and 72.89 marks respectively.
- On the other side, initial supports are seen at 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 NSE was trading 0.37 pct higher at 11,356.80 and BSE was trading 0.48 pct higher at 38,303.92 points.
We prefer to take long position on USD/INR only above 70.80, stop loss 70.47 and target of 71.22/71.46.
