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- USD/INR is currently trading around 71.75 marks.
- It made intraday high at 72.10 and low at 71.67 marks.
- Intraday bias remains neutral till the time pair holds key support at 71.50 mark.
- Key resistances are seen at 72.23, 72.68 and 72.89 marks respectively.
- On the other side, initial supports are seen at 71.40, 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 0.11 pct higher at 10,753.08 points while BSE sensex was trading 0.03 points higher at 36,512.78 points.
We prefer to take long position on USD/INR around 71.70, stop loss 71.40 and target of 72.23.
