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- USD/INR is currently trading around 70.84 marks.
- It made intraday high at 70.92 and low at 70.60 marks.
- Intraday bias remains bullish for the moment.
- Key resistances are seen at 71.06, 71.48 and 71.86 marks respectively.
- On the other side, initial supports are seen at 70.60, 70.23, 69.87, 69.62, 69.35, 69.02, 68.65 and 68.15 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
- India’s NSE Nifty was trading around 0.80 percent higher at 10,822.58 points while BSE Sensex was trading 0.88 points higher at 36,136.32 points.
We prefer to take long position on USD/INR around 70.80, stop loss at 70.60 and target of 71.06/71.48.
