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- USD/INR is currently trading around 70.28 marks.
- It made intraday high at 70.33 and low at 70.19 marks.
- Intraday bias remains bullish till the time pair holds immediate support at 70.02 mark.
- Key resistances are seen at 70.36, 70.52, 70.85, 70.97, 71.23 and 71.51 marks respectively.
- On the other side, initial supports are seen at 70.22, 69.98, 69.80, 69.46, 69.22, 68.92, 68.49, 67.88 and 67.67 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 0.50 pct higher at 11,312.55 points and BSE Sensex was trading 0.60 pct higher at 37,612.79 points.
We prefer to take long position on USD/INR only above 70.38, stop loss 70.01 and target of 70.67/70.97/71.23.
