FxWirePro: Indian rupee trades marginally higher against U.S. dollar, upside limited

• USD/INR is currently trading around 63.70 marks.
   
• It made intraday high at 63.73 and low at 63.64 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 63.75 marks.
   
• Key resistances are seen at 63.75, 63.96, 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 63.62, 63.53, 63.36 and 63.11 marks respectively.
   
• In addition, India’s NSE Nifty was trading around 0.15 percent higher at 10,081.77 points and BSE Sensex was trading at 0.18 percent higher at 32,384.09 points.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.  

We prefer to take short position in USD/INR around 63.70, stop loss at 63.96 and target of 63.53.

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