- USD/INR is currently trading around 64.34 marks.
- It made intraday high at 64.40 and low at 64.34 marks.
- Intraday bias remains neutral till the time pair holds key support at 64.36 marks.
- Key resistances are seen at 64.42, 64.51, 64.62, 64.75, 64.92, 65.02, 65.18, 65.34, 65.52 and 65.80 marks respectively.
- On the other side, initial supports are seen at 64.18, 64.07, 63.95, 63.65, 63.47 and 63.36 marks respectively.
- In addition, India’s NSE Nifty was trading around 0.41 percent lower at 9,628.55 points and BSE Sensex was trading at 0.36 percent lower at 31,148.63 points.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- India will release manufacturing output data at 1130 GMT and CPI at 1200 GMT.
We prefer to take long position in USD/INR around 64.30, stop loss at 64.18 and target of 64.42/64.51.
