FxWirePro: Indian rupee trades marginally lower against U.S. dollar, faces strong support at 63.85 mark

• USD/INR is currently trading around 63.91 marks.
   
• It made intraday high at 63.93 and low at 63.87 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 63.85 mark.
   
• Key resistances are seen at 64.02, 64.15, 64.27, 64.48, 64.67, 64.78, 64.87, 64.95, 65.12 and 65.28 marks respectively.
   
• On the other side, initial supports are seen at 63.85, 63.68 and 63.45 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 0.16 percent higher at 10,460.95 points and BSE Sensex was trading at 0.17 percent higher 33,826.59 points.

We prefer to take short position in USD/INR only below 63.85, stop loss at 64.02 and target of 63.75/63.56.

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