FxWirePro: USD/INR hovers around 71.00 mark, faces key resistance at 71.22 mark

• USD/INR is currently trading around 70.95 marks.
   
• It made intraday high at 71.16 and low at 70.94 marks.
   
• Intraday bias remains neutral till the time pair holds key resistance at 71.22 mark.
   
• Key resistances are seen at 71.22, 71.46, 71.80, 72.17, 72.42, 72.68 and 72.89 marks respectively.

• On the other side, initial supports are seen at 70.82, 70.47, 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.
   
• India’s NSE was trading 0.45 pct lower at 11,305.80 and BSE was trading 0.48 pct lower at 38,110.92 points.

We prefer to take short position on USD/INR only below 70.85, stop loss 71.22 and target of 70.47/70.10.