- USD/INR is currently trading around 70.47 marks.
- It made intraday high at 70.53 and low at 70.43 marks.
- Intraday bias remains neutral till the time pair holds key support at 70.32 mark.
- Key resistances are seen at 70.76, 71.02, 71.25, 71.78 and 72.23 marks respectively.
- On the other side, initial supports are seen at 70.32, 69.63, 69.16, 68.85, 68.66, 68.52 and 68.31 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- India’s NSE was trading 0.86 pct higher at 11,133.26 points and BSE Sensex was trading 0.87 pct higher at 37,652.06 points.
We prefer to take long position on USD/INR around 70.40, stop loss 70.20 and target of 70.76/71.26/71.78.
