- USD/INR is currently trading around 71.14 marks.
- It made intraday high at 71.40 and low at 71.13 marks.
- Intraday bias remains bullish for the moment.
- Key resistances are seen at 71.44, 71.71 and 71.98 marks respectively.
- On the other side, initial supports are seen at 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 0.32 percent lower at 11,545.22 points while BSE Sensex was trading 0.20 points lower at 38,277.82 points.
We prefer to take long position on USD/INR around 71.05, stop loss at 70.63 and target of 71.71.
