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- USD/INR is currently trading around 71.22 marks.
- It made intraday high at 71.32 and low at 71.18 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 71.71 mark.
- Key resistances are seen at 71.71, 72.02, 72.32 and 72.47 marks respectively.
- On the other side, initial supports are seen at 71.08, 70.96, 70.70, 70.49, 70.23, 69.82, 69.60 and 69.35 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 0.72 percent higher at 10,685.58 points while BSE Sensex was trading 0.70 points higher at 35,594.87 points.
We prefer to take short position on USD/INR around 71.30, stop loss at 71.50 and target of 70.96.
