FxWirePro: USD/INR hits fresh 4 – week high at 71.73 mark, stay long

• USD/INR is currently trading around 71.68 marks.
   
• It made intraday high at 71.73 and low at 71.21 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 71.22 mark.
   
• Key resistances are seen at 71.75, 72.05, 72.17, 72.42, 72.68 and 72.89 marks respectively.

• On the other side, initial supports are seen at 71.22, 70.80, 70.64, 70.47, 70.32, 70.10, 69.76 and 69.48 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 0.24 pct lower at 12,252.15 points and BSE sensex points 0.20 pct lower at 41,546.15 points.

We prefer to take long position on USD/INR around 71.65, stop loss at 71.20 and target of 72.42 mark.