FxWirePro: Indian rupee falls against U.S. dollar, faces strong resistance at 63.92 mark
USD/INR is currently trading around 63.81 marks. It made intraday high at 63.85 and low at 63.74 marks. Intraday bias remains bullish till the time pair holds key support at 63.65 marks. Key resistances are seen at 63.92…
It made intraday high at 63.85 and low at 63.74 marks.
Intraday bias remains bullish till the time pair holds key support at 63.65 marks.
Key resistances are seen at 63.92, 64.03, 64.22, 64.48, 64.60, 64.82, 64.98, 65.09, 65.18, 65.34, 65.52 and 65.80 marks respectively.
On the other side, initial supports are seen at 63.65, 63.75, 63.62, 63.53, 63.36 and 63.11 marks respectively.
In addition, India’s NSE Nifty was trading around 0.13 percent lower at 9,966.15 points and BSE Sensex was trading at 0.33 percent lower at 31,918.17 points.
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.
We prefer to take long position in USD/INR only above 63.92, stop loss at 63.75 and target of 64.25.
