FxWirePro: Indian rupee remains almost unchanged despite higher than expected Nikkei services PMI data

• USD/INR is currently trading around 72.21 marks.
   
• It made intraday high at 72.30 and low at 72.14 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 71.92 mark.
   
• Key resistances are seen at 72.42, 72.68 and 72.89 marks respectively.

• On the other side, initial supports are seen at 71.92, 71.67, 71.40, 71.02, 70.72, 70.47 and 70.10 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 0.30 pct lower at 10,767.65 points while BSE sensex was trading 0.22 points lower at 36,480.78 points.
   
• India Nikkei services PMI August 52.4 vs 53.8 m/m previous release.

We prefer to take long position on USD/INR around 72.15, stop loss 71.70 and target of 72.68.