FxWirePro: USD/INR hovers around 65.00 mark, faces strong resistance at 65.08 mark

• USD/INR is currently trading around 64.94 marks.
   
• It made intraday high at 65.04 and low at 64.79 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 64.70 mark.
   
• Key resistances are seen at 65.08, 65.22, 65.36, 65.48, 65.65 and 65.82 marks respectively.
   
• On the other side, initial supports are seen at 64.70, 64.60, 64.42, 64.22, 64.02, 63.87, 63.68, 63.47, 63.22 and 63.17 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 0.33 percent lower at 10,368.80 points while BSE Sensex was trading 0.17 points lower at 33,821.23 points.

We prefer to take long position in USD/INR only above 65.08, stop loss at 64.70 and target of 65.36/65.48.

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