FxWirePro: USD/INR spikes up in opening hours; hits fresh record high at 77.41 mark

• USD/INR is currently trading around 77.00 marks.
   
• It made intraday high at 77.41 and low at 74.90 marks.
   
• Intraday bias remains bullish for the moment.
   
• Key resistances are seen at 77.41, 77.78, 78.12, 78.26, 78.62 and 79.02 marks respectively.

• On the other side, initial supports are seen at 74.90, 73.74, 73.58, 73.00, 72.58, 71.80, 71.47, 71.22, 71.10 and 70.90 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 3.39 pct lower at 8,183.75 points and BSE Sensex was trading 3.25 pct lower at 27,936.11 points.

We prefer to take long position on USD/INR around 76.70, stop loss at 74.89 and target of 78.12.