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- USD/INR is currently trading around 71.94 marks.
- It made intraday high at 72.09 and low at 71.90 marks.
- Intraday bias remains neutral for the moment.
- Key resistances are seen at 72.24, 72.68, 72.85, 73.02, 73.24 and 73.66 marks respectively.
- On the other side, initial supports are seen at 71.88, 71.68, 71.47, 71.33, 71.13, 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. Current downside movement is short term trend correction only.
We prefer to take short position on USD/INR only below 71.88, stop loss at 72.24 and target of 71.68/71.50.
