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- USD/INR is currently trading around 70.75 marks.
- It made intraday high at 70.93 and low at 70.55 marks.
- Intraday bias remains bullish for the moment.
- Key resistances are seen at 70.93, 71.24 and 71.44 marks respectively.
- On the other side, initial supports are seen at 70.63, 70.47, 70.22, 69.94, 69.80, 69.52, 69.02, 68.65, 68.50 and 68.34 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 around 0.27 percent lower at 11,660.22 points while BSE Sensex was trading 0.21 points lower at 38,640.82 points.
We prefer to take long position on USD/INR around 70.70, stop loss at 70.50 and target of 71.00.
