FxWirePro: USD/INR moves in stiff boundaries, sustained close above 71.25 requires for upside rally

• USD/INR is currently trading around 71.18 marks.
   
• It made intraday high at 71.27 and low at 71.12 marks.
   
• Intraday bias remains neutral till the time pair holds key resistance at 71.25 mark.
   
• Key resistances are seen at 71.25, 71.63, 71.90, 72.17, 72.42, 72.68 and 72.89 marks respectively.

• On the other side, initial supports are seen at 71.10, 70.90, 70.68, 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 0.07 pct higher at 12,097.85 points and BSE sensex 0.04 pct higher at 41,159.43 points.

We prefer to take long position on USD/INR only above 71.28, stop loss at 71.00 and target of 71.90.