- USD/INR is currently trading around 64.56 marks.
- It made intraday high at 64.61 and low at 64.52 marks.
- Intraday bias remains neutral till the time pair holds key support at 64.52 marks.
- Key resistances are seen at 64.68, 64.75, 64.92, 65.02, 65.18, 65.34, 65.52 and 65.80 marks respectively.
- On the other side, initial supports are seen at 64.52, 64.40, 64.35, 64.27, 64.07, 63.95, 63.65, 63.47 and 63.36 marks respectively.
- In addition, India’s NSE Nifty was trading around 0.04 percent lower at 9,619.55 points and BSE Sensex was trading at 0.01 percent lower at 31,157.57 points.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take short position in USD/INR only below 64.52, stop loss at 64.68 and target of 64.40/64.27.
