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- USD/INR is currently trading around 71.94 marks.
- It made intraday high at 72.00 and low at 71.80 marks.
- Intraday bias remains bullish till the time pair holds key support at 71.50 mark.
- Key resistances are seen at 71.91, 72.23, 72.68 and 72.89 marks respectively.
- On the other side, initial supports are seen at 71.40, 71.02, 70.72, 70.47 and 70.10 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 0.38 pct lower at 11,004.65 points while BSE sensex was trading 0.36 points lower at 37,314.78 points.
We prefer to take long position on USD/INR around 71.85, stop loss 71.60 and target of 72.23/72.68.
