FxWirePro: USD/INR exhibits range bound movement, further sideways movement likely

• USD/INR is currently trading around 75.72 marks.
   
• It made intraday high at 75.82 and low at 75.55 marks.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 75.24 mark.
   
• Key resistances are seen at 76.00, 76.51, 76.87, 77.41, 77.78, 78.12, 78.26, 78.62 and 79.02 marks respectively.

• On the other side, initial supports are seen at 75.24, 74.90, 74.50, 73.74, 73.58, 73.00 and 72.58 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 was trading 0.27 pct higher at 9,307.55 points while BSE Sensex was trading 0.28 pct higher at 31,831.55 points.

Positioning is inconclusive at this point. We remain sideways for the time being.