FxWirePro: Indian rupee reverses previous loss against U.S. dollar, India’s manufacturing output data in focus

• USD/INR is currently trading around 73.55 marks.
   
• It made intraday high at 73.82 and low at 73.49 marks.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 73.82 mark.
   
• Key resistances are seen at 73.82, 74.28, 74.57, 74.77 and 74.95 marks respectively.

• On the other side, initial supports are seen at 73.48, 73.22, 72.89, 72.45, 72.12, 71.50, 71.33 and 71.13 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 1.96 percent higher at 10,435.20 points while BSE Sensex was trading 1.95 points higher at 34,664.82 points.
   
• India will release manufacturing production as well as industrial production data at 1200 GMT.

We prefer to take long position on USD/INR only above 73.82, stop loss at 73.50 and target of 74.57.