FxWirePro: Indian rupee trades marginally lower against U.S. dollar, good to go long on dips

• USD/INR is currently trading around 72.60 marks.
   
• It made intraday high at 72.63 and low at 72.42 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 71.89 mark.
   
• Key resistances are seen at 72.86, 73.02, 73.45, 74.04, 74.28, 74.57, 74.77 and 74.95 marks respectively.

• On the other side, initial supports are seen at 72.18, 71.89, 71.50, 71.33 and 71.13 marks respectively
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• 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 0.16 percent lower at 10,581.22 points while BSE Sensex was trading 0.28 points lower at 35,149.55 points.
   
• India will release forex reserves and deposit growth data at 1130 GMT.

We prefer to take long position on USD/INR around 72.50, stop loss at 72.20 and target of 73.45 mark.