- USD/INR is currently trading around 73.77 marks.
- It made intraday high at 73.82 and low at 73.00 marks.
- Intraday bias remains bullish for the moment.
- Key resistances are seen at 73.93, 74.12, 74.46, 74.68 and 75.10 marks respectively.
- On the other side, initial supports are seen at 72.58, 71.80, 71.47, 71.22, 71.10, 70.90, 70.68, 70.47, 70.32, 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 0.13 pct lower at 11,288.75 points and BSE sensex 0.17 pct lower at 38,556.05 points.
- India’s Nikkei services PMI stands at 57.5 vs 55.5 previous release (expected 52.9).
We prefer to take long position on USD/INR around 73.70, stop loss at 72.90 and target of 74.46/74.68.
