- USD/INR is currently trading around 64.07 marks.
- It made intraday high at 64.11 and low at 64.05 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 64.22 marks.
- Key resistances are seen at 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 64.03, 63.95, 63.65, 63.47 and 63.36 marks respectively.
- In addition, India’s NSE Nifty was trading around 0.06 percent higher at 10,087.96 points and BSE Sensex was trading at 0.05 percent lower at 32,505.79 points.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- India July Nikkei markit manufacturing PMI decrease to 47.9 (forecast 50.8) vs previous 50.9.
We prefer to take short position in USD/INR around 64.10, stop loss at 64.25 and target of 63.65.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
