- USD/INR is currently trading around 71.47 marks.
- It made intraday high at 71.58 and low at 71.46 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 71.80 mark.
- Key resistances are seen at 71.80, 72.02, 72.32 and 72.47 marks respectively.
- On the other side, initial supports are seen at 71.40, 71.06, 70.93, 70.78 and 70.23 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 0.57 percent higher at 10,996.58 points while BSE Sensex was trading 0.56 points higher at 36,830.55 points.
We prefer to take short position on USD/INR around 71.55, stop loss at 71.80 and target of 71.06.
