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- USD/INR is currently trading around 70.83 marks.
- It made intraday high at 71.02 and low at 70.71 marks.
- Intraday bias remains slightly bearish for the moment.
- Key resistances are seen at 71.02, 71.25, 71.78 and 72.23 marks respectively.
- On the other side, initial supports are seen at 70.51, 69.63, 69.16, 68.85, 68.66, 68.52 and 68.31 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 was trading 0.38 pct higher at 10,876.26 points and BSE Sensex was trading 0.20 pct higher at 36,761.06 points.
We prefer to take long position on USD/INR only above 71.02, stop loss 70.48 and target of 71.26/71.78.
