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- USD/INR is currently trading around 71.43 marks.
- It made intraday high at 71.65 and low at 71.02 marks.
- Intraday bias remains bullish till the time pair holds key support at 70.80 mark.
- Key resistances are seen at 71.92, 72.17, 72.42, 72.68 and 72.89 marks respectively.
- On the other side, initial supports are seen at 71.02, 70.80, 70.47 and 70.10 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 0.30 pct lower at 11,042.05 points while BSE sensex was trading 0.32 points lower at 37,265.93 points.
We prefer to take long position on USD/INR around 71.25, stop loss 71.02 and target of 71.92.
