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- USD/INR is currently trading around 70.70 marks.
- It made intraday high at 71.31 and low at 70.51 marks.
- Intraday bias remains slightly bearish for the moment.
- Key resistances are seen at 71.25, 71.68, 71.92 and 72.26 marks respectively.
- On the other side, initial supports are seen at 70.67, 69.70, 69.48, 69.22, 68.92, 68.49, 67.88 and 67.67 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 0.61 pct higher at 10,932.26 points and BSE Sensex was trading 0.60 pct higher at 36,913.06 points.
We prefer to take long position on USD/INR around 70.50, stop loss 70.25 and target of 71.25/71.68.
