FxWirePro: Indian rupee trades marginally lower against U.S. dollar, stay bullish only above 73.02

• USD/INR is currently trading around 72.90 marks.
   
• It made intraday high at 72.92 and low at 72.54 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 72.62 mark.
   
• Key resistances are seen at 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 72.45, 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 0.17 percent lower at 10,535.22 points while BSE Sensex was trading 0.10 points lower at 34,979.55 points..

We prefer to take long position on USD/INR only above 73.02, stop loss at 72.50 and target of 74.04.