FxWirePro: Indian rupee falls against U.S. dollar, good to buy on dips

• USD/INR is currently trading around 72.81 marks.
   
• It made intraday high at 72.85 and low at 72.45 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 72.35 mark.
   
• Key resistances are seen at 73.02, 73.24, 73.48 and 73.66 marks respectively.

• On the other side, initial supports are seen at 72.35, 72.12, 71.50, 71.33, 71.13, 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 0.37 percent lower at 10,888.20 points while BSE Sensex was trading 0.24 points lower at 36,141.82 points.
   
• India Sep 2018 Nikkei markit manufacturing PMI increase to 52.2 (forecast 52.4) vs previous 51.7.

We prefer to take long position on USD/INR around 72.70, stop loss at 72.50 and target of 73.02/73.24.