FxWirePro: Indian rupee trades marginally lower ahead of WPI inflation data

• USD/INR is currently trading around 64.98 marks.
   
• It made intraday high at 65.04 and low at 64.76 marks.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 64.68 mark.
   
• Key resistances are seen at 65.07, 65.25, 65.32, 65.48, 65.65 and 65.82 marks respectively.
   
• On the other side, initial supports are seen at 64.68, 64.50, 64.22, 64.02, 63.87, 63.68, 63.47, 63.22 and 63.17 marks respectively.

• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• India’s NSE Nifty was trading around 0.50 percent lower at 10,375.70 points and BSE Sensex was trading at 0.48 percent lower at 33,696.74 points.
   
• India will release WIP inflation data at 0630 GMT.

We prefer to take long position in USD/INR only above 65.10, stop loss at 64.82 and target of 65.48.

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