75.5 has been a strong support. Let's see how close can it get till Friday (expiry date of and options for USDINR ), or does it even breach the line.
If there are no more significant violence along the Indo-China border this week (seems unlikely as the high level military officials from both sides have been talking constantly), the current trend will continue.
So to cut it short, till the cases keep rising in US, the scrip will be trading in a consolidation (even slightly bearish). Supports are at 75.2, 74.5, 74. If there are escalations in the border then the scrip will rally very fast (the speed will depend on the severity of the news). As for resistances, 76 and then 76.5 might be a good resistance, but since INR is a emerging market currency such currency pairs, do not have strong resistance above. That's just way it is. Especially during such tumultuous times where so many events are taking place at once.
If you are moderately risk taking person, you can sell 75 Put options for July (expiring on 29th July). If you feel that rupee is appreciating and dollar is depreciating even after a week (highly unlikely), then you can sell 76.5 or 76.25 Call options (expiring on 29th July) depending on you risk appetite. Hope this helps. If you have more questions, feel free to ask. As I said earlier I will be publishing my view for July in a separate post, but this is what I feel as of now and I don't think the view will differ much (maybe I'll add some more information at best).