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- USD/INR is currently trading around 71.15 marks.
- It made intraday high at 71.31 and low at 70.80 marks.
- Intraday bias remains bullish till the time pair holds key support at 70.70 mark.
- Key resistances are seen at 71.32, 71.71, 72.02, 72.32 and 72.47 marks respectively.
- On the other side, initial supports are seen at 70.70, 70.49, 70.23, 69.82, 69.60 and 69.35 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 around 0.62 percent lower at 10,811.58 points while BSE Sensex was trading 0.70 points lower at 35,963.87 points.
We prefer to take long position on USD/INR around 71.10, stop loss at 70.70 and target of 71.32/71.71.
