- USD/INR is currently trading around 71.24 marks.
- It made intraday high at 71.28 and low at 71.18 marks.
- Intraday bias remains slightly bullish till the time pair holds key support at 71.02 mark.
- Key resistances are seen at 71.56, 71.80, 72.17, 72.42, 72.68 and 72.89 marks respectively.
- On the other side, initial supports are seen at 71.02, 70.90, 70.47, 70.10, 69.76 and 69.48 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 0.07 pct higher at 11,472.80 and BSE was trading 0.20 pct higher at 38,681.44 points.
We prefer to take long position on USD/INR around 71.20, stop loss 71.00 and target of 71.56/71.80.
By Aarti Panchal