- USD/INR is currently trading around 74.95 marks.
- It made intraday high at 75.38 and low at 74.89 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 75.38 mark.
- Key resistances are seen at 75.38, 75.80, 76.00, 76.51, 76.87, 77.41, 77.78, 78.12, 78.26, 78.62 and 79.02 marks respectively.
- On the other side, initial supports are seen at 74.90, 74.50, 73.74, 73.58, 73.00 and 72.58 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 0.92 pct higher at 9,467.35 points while BSE Sensex was trading 0.87 pct higher at 32,388.64 points.
We prefer to take short position on USD/INR around 75.00, stop loss at 75.38 and target of 74.50.
