FxWirePro: USD/INR hits fresh 8 – month high at 72.29 mark, stay long

• USD/INR is currently trading around 72.28 marks.
   
• It made intraday high at 72.29 and low at 71.83 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 71.90 mark.
   
• Key resistances are seen at 72.23, 72.68 and 72.89 marks respectively.

• On the other side, initial supports are seen at 71.90, 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 0.70 pct higher at 10,904.08 points while BSE sensex was trading 0.75 points higher at 36,974.78 points.

We prefer to take long position on USD/INR around 72.25, stop loss 71.90 and target of 72.89.