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- USD/INR is currently trading around 71.89 marks.
- It made intraday high at 71.97 and low at 71.78 marks.
- Intraday bias remains neutral till the time pair holds key resistance at 71.97 mark.
- Key resistances are seen at 71.97, 72.17, 72.42, 72.68 and 72.89 marks respectively.
- On the other side, initial supports are seen at 71.67, 71.40, 71.02, 70.72, 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 0.60 pct higher at 10,910.65 points while BSE sensex was trading 0.40 points higher at 36,868.93 points.
We prefer to take long position on USD/INR only above 71.97, stop loss 71.70 and target of 72.68.
