FxWirePro: USD/INR hits fresh 2-month high at 64.48 mark, sustained lose above requires for upside rally
USD/INR is currently trading around 64.34 marks. It made intraday high at 64.48 and low at 64.29 marks. Intraday bias remains bullish till the time pair holds key support 64.02 mark. Key resistances are seen at 64.48, 64…
It made intraday high at 64.48 and low at 64.29 marks.
Intraday bias remains bullish till the time pair holds key support 64.02 mark.
Key resistances are seen at 64.48, 64.65, 64.82 and 65.12 marks respectively.
On the other side, initial supports are seen at 64.02, 63.87, 63.70, 63.48, 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. Current upside movement is short term trend correction only.
India’s NSE Nifty was trading around 2.82 percent lower at 10,365.70 points and BSE Sensex was trading at 3.01 percent lower 33,711.78 points.
We prefer to take short position in USD/INR only below 64.22, stop loss at 64.48 and target of 64.02.
