FxWirePro: USD/INR hovers around key resistance at 64.92 mark, India’s Fed fiscal deficit data in focus

• USD/INR is currently trading around 64.92 marks.
   
• It made intraday high at 64.92 and low at 64.73 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 64.60 mark.
   
• Key resistances are seen at 64.92, 65.02, 65.22, 65.36, 65.48, 65.65 and 65.82 marks respectively.
   
• On the other side, initial supports are seen at 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 0.60 percent lower at 10,123.60 points and BSE Sensex was trading at 0.60 percent lower at 32,973.44 points.
   
• India  will release fiscal deficit data at 1000 GMT.

We prefer to take long position in USD/INR around 64.88, stop loss at 64.70 and target of 65.02/65.22.

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