- USD/INR is currently trading around 64.51 marks.
- It made intraday high at 64.53 and low at 64.46 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 64.63 marks.
- Key resistances are seen at 64.63, 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 64.46, 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 0.20 percent higher at 9,790.70 points and BSE Sensex was trading at 0.21 percent higher at 31,762.02 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 64.52, stop loss at 64.63 and target of 64.40/64.32.
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