- USD/INR is currently trading around 70.88 marks.
- It made intraday high at 70.71 and low at 70.57 marks.
- Intraday bias remains slightly bullish for the moment.
- Key resistances are seen at 71.05, 71.40, 72.02, 72.24, 72.50 and 72.86 marks respectively.
- On the other side, initial supports are seen at 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 1.25 percent lower at 10,647.58 points while BSE Sensex was trading 1.13 points lower at 35,478.55 points.
We prefer to take long position on USD/INR only above 71.05, stop loss at 70.57 and target of 71.40/71.88.
