- USD/INR is currently trading around 72.56 marks.
- It made intraday high at 73.00 and low at 72.47 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 72.96 mark.
- Key resistances are seen at 74.04, 74.28, 74.57, 74.77 and 74.95 marks respectively.
- On the other side, initial supports are seen at 73.48, 72.96, 72.87, 72.45, 72.12, 71.50, 71.33 and 71.13 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 1.70 percent higher at 10,556.22 points while BSE Sensex was trading 1.64 points higher at 34,999.55 points.
We prefer to take short position on USD/INR around 72.70, stop loss at 73.00 and target of 71.33.
