- USD/INR is currently trading around 64.09 marks.
- It made intraday high at 64.12 and low at 64.01 marks.
- Intraday bias remains neutral till the time pair holds key support at 64.01 marks.
- Key resistances are seen at 64.12, 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 64.01, 63.95, 63.65, 63.47 and 63.36 marks respectively.
- In addition, India’s NSE Nifty was trading around 0.08 percent lower at 10,106.70 points and BSE Sensex was trading at 0.04 percent higher at 32,586.09 points.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- RBI will release repo rate decision at 0900 GMT.
We prefer to take short position in USD/INR only below 64.01, stop loss at 64.25 and target of 63.65.
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