- USD/INR is currently trading around 71.41 marks.
- It made intraday high at 71.84 and low at 71.39 marks
- Intraday bias remains bearish for the moment.
- Key resistances are seen at 72.02, 72.47,72.86, 73.27 and 73.70 marks respectively.
- On the other side, initial supports are seen at 71.12, 70.57, 70.27, 69.87, 69.66, 69.34, 69.02, 68.65 and 68.15 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- India’s NSE Nifty was trading around 0.66 percent higher at 10,808.58 points while BSE Sensex was trading 0.70 points higher at 36,038.55 points.
We prefer to take short position on USD/INR around 71.50, stop loss at 71.90 and target of 71.12.