FxWirePro: Indian rupee trades marginally lower against U.S. dollar, India’s CPI data in focus

• USD/INR is currently trading around 64.31 marks.
   
• It made intraday high at 64.38 and low at 64.24 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 64.24 mark.
   
• Key resistances are seen at 64.48, 64.62, 64.85 and 65.12 marks respectively.
   
• On the other side, initial supports are seen at 64.22, 64.02, 63.87 and 63.70 marks respectively.

• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• India’s NSE Nifty was trading around 0.45 percent higher at 10,504.70 points and BSE Sensex was trading at 0.48 percent higher at 34,170.64 points.
   
• India will release manufacturing output, industrial output and CPI data at 1130 GMT.

We prefer to take short position in USD/INR only below 64.24, stop loss at 64.48 and target of 64.02/63.86.

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