FxWirePro: USD/INR breaks key support at 63.48 mark, bias remains slightly bearish

• USD/INR is currently trading around 63.49 marks.
   
• It made intraday high at 63.49 and low at 63.39 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 63.72 mark.
   
• Key resistances are seen at 63.72, 63.87, 63.96, 64.05, 64.12, 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 63.38, 63.27, 63.18, 63.10, 62.84, 62.67, 62.48 and 61.96 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 0.34 percent lower at 11,048.70 points and BSE Sensex was trading at 0.36 percent higher 36,038.31 points.

We prefer to take short position in USD/INR around 63.52, stop loss at 63.72 and target of 63.38/63.18.

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