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- USD/INR is currently trading around 70.10 marks.
- It made intraday high at 70.24 and low at 70.02 marks.
- Intraday bias remains slightly bearish for the moment.
- Key resistances are seen at 70.25, 70.38, 70.56, 70.80 and 71.24 marks respectively.
- On the other side, initial supports are seen at 70.02, 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 11,567.22 points while BSE Sensex was trading 0.15 points lower at 38,285.82 points.
We prefer to take long position on USD/INR around 70.05, stop loss at 69.90 and target of 70.38.
