FxWirePro: USD/INR moves in stiff boundaries, sustained close above 75.20 requires for upside rally

• USD/INR is currently trading around 75.34 marks.
   
• It made intraday high at 75.38 and low at 74.75 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 74.75 mark.
   
• Key resistances are seen at 75.80, 76.40, 77.41, 77.78, 78.12, 78.26, 78.62 and 79.02 marks respectively.

• On the other side, initial supports are seen at 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 3.60 pct lower at 8,288.75 points and BSE Sensex was trading 3.44 pct lower at 28,470.88 points.

We prefer to take long position on USD/INR around 75.20, stop loss at 74.75 and target of 75.80.