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FxWirePro: USD/CNY gains some ground but bearish outlook persists 
- USD/INR is currently trading around 75.80 marks.
- It made intraday high at 76.27 and low at 74.93 marks.
- Intraday bias remains bullish for the moment.
- Key resistances are seen at 76.50, 77.41, 77.78, 78.12, 78.26, 78.62 and 79.02 marks respectively.
- On the other side, initial supports are seen at 74.50, 73.74, 73.58, 73.00, 72.58, 71.80, 71.47, 71.22, 71.10 and 70.90 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 9.96 pct lower at 7,903.75 points and BSE Sensex was trading 9.99 pct lower at 26,928.29 points.
We prefer to take long position on USD/INR around 75.55, stop loss at 74.90 and target of 76.50/77.41.
