USD/INR is currently trading around 70.80 marks. It made intraday high at 70.90 and low at 70.63 marks. Intraday bias remains slightly bearish till the time pair holds key resistance at 70.90 mark. Key resistances are se…
It made intraday high at 70.90 and low at 70.63 marks.
Intraday bias remains slightly bearish till the time pair holds key resistance at 70.90 mark.
Key resistances are seen at 70.90, 71.22, 71.47, 71.68, 71.90, 72.17, 72.42, 72.68 and 72.89 marks respectively.
On the other side, initial supports are seen at 70.64, 70.47, 70.32, 70.10, 69.76 and 69.48 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
India’s NSE was trading 0.56 pct higher at 12,325.25 points and BSE sensex 0.60 pct higher at 41,852.75 points.
We prefer to take long position on USD/INR only above 70.90, stop loss at 70.60 and target of 71.22/71.47 mark.
