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- USD/INR is currently trading around 72.36 marks.
- It made intraday high at 72.86 and low at 72.29 marks.
- Intraday bias remains bearish for the moment.
- Key resistances are seen at 72.86, 73.02, 73.45, 74.04, 74.28, 74.57, 74.77 and 74.95 marks respectively.
- On the other side, initial supports are seen at 72.18, 71.50, 71.33 and 71.13 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Curren downside movement is short term trend correction only.
We prefer to take short position on USD/INR only below 72.18, stop loss at 72.50 and target of 71.50 mark.
