- USD/INR is currently trading around 72.66 marks.
- It made intraday high at 72.69 and low at 72.06 marks.
- Intraday bias remains bullish for the moment.
- Key resistances are seen at 72.68, 72.85, 73.02 and 73.24 marks respectively.
- On the other side, initial supports are seen at 72.06, 71.62, 71.47, 71.33, 71.00, 70.63, 70.47, 70.22 and 69.94 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 0.71 percent lower at 11,506.28 points while BSE Sensex was trading 0.70 points lower at 38,125.82 points.
We prefer to take long position on USD/INR around 72.50, stop loss at 72.00 and target of 73.02.
