FxWirePro: USD/INR jumps above 72.00 mark, good to buy on dips

• USD/INR is currently trading around 72.05 marks.
   
• It made intraday high at 72.09 and low at 71.92 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 71.67 mark.
   
• Key resistances are seen at 72.23, 72.68 and 72.89 marks respectively.

• On the other side, initial supports are seen at 71.67, 71.40, 71.02, 70.72, 70.47 and 70.10 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 1.12 pct lower at 10,888.65 points while BSE sensex was trading 1.15 points lower at 36,892.78 points.

We prefer to take long position on USD/INR around 72.00, stop loss 71.70 and target of 72.23/72.68.