- USD/INR is currently trading around 72.42 marks.
- It made intraday high at 72.65 and low at 72.27 marks.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 72.65 mark.
- Key resistances are seen at 72.65, 72.85, 73.02 and 73.24 marks respectively.
- On the other side, initial supports are seen at 72.06, 71.62, 71.47, 71.33, 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 0.02 percent higher at 11,439.28 points while BSE Sensex was trading 0.04 points higher at 37,936.82 points.
We prefer to take long position on USD/INR only above 72.65, stop loss at 72.20 and target of 73.02.
