- USD/INR is currently trading around 64.95 marks.
- It made intraday high at 65.03 and low at 64.84 marks.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 64.98 marks.
- Key resistances are seen at 64.98, 65.03, 65.34, 65.52 and 65.80 marks respectively.
- On the other side, initial supports are seen at 64.82, 64.64, 64.53, 64.29, 63.96, 63.87, 63.70, 63.62, 63.48, 63.36 and 63.11 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- India’s NSE Nifty was trading around 1.16 percent lower at 9,850.55 points and BSE Sensex was trading at 0.91 percent lower 31,632.30 points.
We prefer to take long position in USD/INR around 64.85, stop loss at 64.74 and target of 65.35/65.52.
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