FxWirePro: USD/INR hits fresh 3-week low at 64.36 mark, good to sell on rallies

• USD/INR is currently trading around 64.42 marks.
   
• It made intraday high at 64.43 and low at 64.36 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 64.60 marks.  
   
• Key resistances are seen at 64.60, 64.85, 64.98, 65.09, 65.18, 65.34, 65.52 and 65.80 marks respectively.
   
• On the other side, initial supports are seen at 64.32, 64.27, 64.18, 64.07, 63.95, 63.65, 63.47 and 63.36 marks respectively.
   
• In addition, India’s NSE Nifty was trading around 0.62 percent higher at 9,876.70 points and BSE Sensex was trading at 0.70 percent higher at 32,028.37 points.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take short position in USD/INR around 64.48, stop loss at 64.55 and target of 64.32/64.18.

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