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- USD/INR is currently trading around 70.50 marks.
- It made intraday high at 70.51 and low at 70.16 marks.
- Intraday bias remains neutral for the moment.
- Key resistances are seen at 70.64, 71.05, 71.40, 72.02, 72.24, 72.50 and 72.86 marks respectively.
- On the other side, initial supports are seen at 70.22, 69.69, 69.02, 68.65 and 68.15 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take long position on USD/INR only above 70.64, stop loss at 70.15 and target of 71.00/71.20 mark.
