- USD/INR is currently trading around 63.75 marks.
- It made intraday high at 63.76 and low at 63.63 marks.
- Intraday bias remains bullish till the time pair holds key support at 63.48 mark.
- Key resistances are seen at 63.87, 63.96, 64.05 and 64.12 marks respectively.
- On the other side, initial supports are seen at 63.48, 63.38, 63.27, 63.18, 63.10, 62.84, 62.67, 62.48 and 61.96 marks respectively.
- 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.
- India’s NSE Nifty was trading around 0.77 percent lower at 11,045.70 points and BSE Sensex was trading at 0.57 percent lower 36,075.80 points.
We prefer to take long position in USD/INR around 63.70, stop loss at 63.62 and target of 63.96.
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