FxWirePro: Indian rupee trades marginally lower against U.S. dollar, sustained close below 64.00 targets 63.65 mark
USD/INR is currently trading around 64.11 marks. It made intraday high at 64.12 and low at 64.03 marks. Intraday bias remains neutral till the time pair holds key support at 64.04 marks. Key resistances are seen at 64.22…
It made intraday high at 64.12 and low at 64.03 marks.
Intraday bias remains neutral till the time pair holds key support at 64.04 marks.
Key resistances are seen at 64.22, 64.40, 64.61, 64.74, 64.82, 64.92, 65.08, 65.15, 65.34, 65.48 and 65.64 marks respectively.
On the other side, initial supports are seen at 63.94, 63.65, 63.47 and 63.36 marks respectively.
In addition, India’s NSE Nifty was trading around 0.32 percent higher at 9,472.55 points and BSE Sensex was trading at 0.37 percent higher at 30,433.65 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 go short on USD/INR only below 64.03, stop loss 64.22 and target of 63.94/63.78/63.65.
