FxWirePro: USD/INR trades in narrow range, stay bullish only above 71.87 mark

• USD/INR is currently trading around 71.80 marks.
   
• It made intraday high at 71.87 and low at 71.71 marks.
   
• Intraday bias remains neutral for the moment..
   
• Key resistances are seen at 71.87, 72.26, 72.48 and 72.92 marks respectively.

• On the other side, initial supports are seen at 71.47, 71.02, 70.67, 69.70, 69.48, 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 0.66 pct lower at 10,932.26 points and BSE Sensex was trading 0.65 pct lower at 36,884.06 points.

We prefer to take long position on USD/INR only above 71.87, stop loss 71.50 and target of 72.26/72.48.