FxWirePro: USD/INR stabilizes below 71.55 mark, bias remains slightly bearish

• USD/INR is currently trading around 71.37 marks.
   
• It made intraday high at 71.55 and low at 71.36 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 71.55 mark.
   
• Key resistances are seen at 71.55, 71.90, 72.17, 72.42, 72.68 and 72.89 marks respectively.

• On the other side, initial supports are seen at 71.22, 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 0.08 pct lower at 12,103.85 points and BSE sensex 0.01 pct higher at 41,257.43 points.

We prefer to take short position on USD/INR around 71.40, stop loss at 71.55 and target of 71.22/70.90.