FxWirePro: Indian rupee falls unexpectedly against U.S. dollar, stay bullish

• USD/INR is currently trading around 64.12 marks.
   
• It made intraday high at 64.16 and low at 63.90 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 63.87 mark.
   
• Key resistances are seen at 64.12, 64.28, 64.40 and 64.58 marks respectively.
   
• On the other side, initial supports are seen at 63.87, 63.70, 63.48, 63.38, 63.27, 63.18, 63.10, 62.84, 62.67, 62.48 and 61.96 marks respectively.

• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
   
• India’s NSE Nifty was trading around 0.70 percent lower at 10,941.70 points and BSE Sensex was trading at 0.63 percent lower 35,625.78 points.

We prefer to take long position in USD/INR around 64.07, stop loss at 63.87 and target of 64.40.

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