FxWirePro: USD/INR stabilizes below 73.50 mark, short term trend reversal likely

• USD/INR is currently trading around 73.36 marks.
   
• It made intraday high at 73.42 and low at 73.18 marks.
   
• Intraday bias remains neutral time pair holds key support at 73.20 mark.
   
• Key resistances are seen at 73.45, 73.70, 73.82, 74.28, 74.57, 74.77 and 74.95 marks respectively.

• On the other side, initial supports are seen at 73.10, 72.89, 72.45, 72.12, 71.50, 71.33 and 71.13 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 0.36 percent higher at 10,622.20 points while BSE Sensex was trading 0.52 points higher at 35,338.86 points.

We prefer to take short position on USD/INR around 73.40, stop loss at 73.70 and target of 72.70.