FxWirePro: Indian rupee continues to fall against U.S. dollar, hits new record low at 71.83 mark

• USD/INR is currently trading around 71.81 marks.
   
• It made intraday high at 71.83 and low at 71.33 marks.
   
• Intraday bias remains bullish for the moment.
   
• Key resistances are seen at 71.98, 72.24, 72.44, 72.68 and 72.85 marks respectively.

• On the other side, initial supports are seen at 71.33, 71.00, 70.63, 70.47, 70.22 and 69.94 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 around 0.13 percent lower at 11,505.22 points while BSE Sensex was trading 0.09 points lower at 38,123.82 points.
   
• India Aug 2018 Nikkei markit services PMI decrease to 51.5 vs previous 54.2.

We prefer to take long position on USD/INR around 71.70, stop loss at 70.33 and target of 72.24/72.44.