FxWirePro: USD/INR exhibits range bound movement, stay bearish only below 64.72 mark

• USD/INR is currently trading around 64.82 marks.
   
• It made intraday high at 64.87 and low at 64.73 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 64.72 mark.
   
• Key resistances are seen at 64.95, 65.12, 65.28, 65.49, 65.72, 65.85, 65.98, 66.20, 66.46, 66.68 and 66.79 marks respectively.
   
• On the other side, initial supports are seen at 64.72, 64.61, 64.48, 64.38, 64.29 and 64.05 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 0.17 percent higher at 10,360.35 points and BSE Sensex was trading at 0.10 percent higher 33,604.22 points.

We prefer to take short position in USD/INR only below 64.72, stop loss at 64.95 and target of 64.48.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest