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- USD/INR is currently trading around 70.00 marks.
- It made intraday high at 70.08 and low at 69.80 marks.
- Intraday bias remains slightly bullish till the time pair holds key support at 69.52 mark.
- Key resistances are seen at 70.08, 70.20, 70.38, 70.56, 70.80 and 71.24 marks respectively.
- On the other side, initial supports are seen at 69.81, 69.52, 69.02, 68.65, 68.50 and 68.34 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 0.12 percent lower at 11,557.22 points while BSE Sensex was trading 0.04 points lower at 38,270.82 points.
We prefer to take long position on USD/INR around 69.98, stop loss at 69.80 and target of 70.38.
