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- USD/INR is currently trading around 70.80 marks.
- It made intraday high at 70.95 and low at 70.64 marks.
- Intraday bias remains bullish till the time pair holds key support at 70.57 mark.
- Key resistances are seen at 71.22, 71.46, 71.80, 72.17, 72.42, 72.68 and 72.89 marks respectively.
- On the other side, initial supports are seen at 70.57, 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 0.45 pct higher at 11,226.80 and BSE was trading 0.60 pct higher at 37,888.92 points.
We prefer to take long position on USD/INR around 70.75, stop loss 70.57 and target of 71.22/71.46.
