FxWirePro: USD/INR hits fresh 5-month high at 65.38 mark, India’s WPI inflation data in focus

• USD/INR is currently trading around 65.37 marks.
   
• It made intraday high at 65.38 and low at 65.13 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 65.08 mark.
   
• Key resistances are seen at 65.48, 65.65 and 65.82 marks respectively.
   
• On the other side, initial supports are seen at 65.20, 65.08, 64.87, 64.70, 64.60, 64.42, 64.22, 64.02, 63.87, 63.68, 63.47, 63.22 and 63.17 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 Nifty was trading around 0.08 percent lower at 10,476.80 points while BSE Sensex was trading 0.10 points higher at 34,157.23 points.
   
• India will release WPI inflation data around 0630 GMT.

We prefer to take long position in USD/INR around 65.30, stop loss at 65.08 and target of 65.65.

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