- USD/INR is currently trading around 76.12 marks.
- It made intraday high at 76.51 and low at 76.07 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 75.51 mark.
- Key resistances are seen at 76.51, 76.87, 77.41, 77.78, 78.12, 78.26, 78.62 and 79.02 marks respectively.
- On the other side, initial supports are seen at 76.03, 75.72, 75.47, 74.90, 74.50, 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 1.12 pct higher at 9,082.55 points while BSE Sensex was trading 1.33 pct higher at 31,031.38 points.
We prefer to take short position on USD/INR only below 76.03, stop loss at 76.51 and target of 75.72/75.47.
