FxWirePro: Indian rupee weakens 0.1 pct to 72.90 in opening trade against the U.S. dollar, India’s economic data in focus

• USD/INR is currently trading around 72.70 marks.
   
• It made intraday high at 72.90 and low at 72.49 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 72.27 mark.
   
• Key resistances are seen at 72.66, 72.85, 73.02, 73.24 and 73.66 marks respectively.

• On the other side, initial supports are seen at 72.27, 72.06, 71.62, 71.47, 71.33, 71.00, 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 0.18 percent higher at 11,308.28 points while BSE Sensex was trading 0.22 points higher at 37,496.82 points.
   
• India will release CPI as well as manufacturing output data at 1200 GMT.

We prefer to take long position on USD/INR around 72.70, stop loss at 72.45 and target of 73.24.