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- USD/INR is currently trading around 71.16 marks.
- It made intraday high at 71.28 and low at 71.11 marks.
- Intraday bias remains bullish till the time pair holds key support at 70.97 mark.
- Key resistances are seen at 71.37, 71.75, 72.02, 72.32 and 72.47 marks respectively.
- On the other side, initial supports are seen at 70.97, 70.72, 70.45 and 70.23 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 Nifty was trading around 0.70 percent lower at 10,868.58 points while BSE Sensex was trading 0.57 points lower at 36,341.55 points.
We prefer to take long position on USD/INR around 71.15, stop loss at 70.97 and target of 71.37/71.50.
