- USD/INR is currently trading around 74.26 marks.
- It made intraday high at 74.59 and low at 73.99 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 74.50 mark.
- Key resistances are seen at 74.50, 75.38, 75.80, 76.00 and 76.51marks respectively.
- On the other side, initial supports are seen at 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 3.04 pct higher at 9,843.35 points while BSE Sensex was trading 3.06 pct higher at 33,720.64 points.
We prefer to take short position on USD/INR around 74.30, stop loss at 74.50 and target of 73.74/73.58.
