FxWirePro: Indian rupee falls as services PMI data fails to match expectations

• USD/INR is currently trading around 64.37 marks.
   
• It made intraday high at 64.37 and low at 64.23 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 64.22 mark.
   
• Key resistances are seen at 64.40, 64.49, 64.55, 64.62, 64.75, 64.87, 64.95, 65.12 and 65.28 marks respectively.
   
• On the other side, initial supports are seen at 64.22, 64.05, 63.85 and 63.68 marks respectively.
   
• India’s NSE Nifty was trading around 0.25 percent lower at 10,102.95 points and BSE Sensex was trading at 0.34 percent lower 32,756.05 points.
   
• India Nov 2017 Nikkei market services PMI decrease to 48.5 vs previous 51.7.

We prefer to take short position in USD/INR only below 64.22, stop loss at 64.37 and target of 64.05.

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