- USD/INR is currently trading around 64.45 marks.
- It made intraday high at 64.47 and low at 64.40 marks.
- Intraday bias remains slightly bullish till the time pair holds key support at 64.40 mark.
- Key resistances are seen at 64.49, 64.55, 64.62, 64.75, 64.87, 64.95, 65.12 and 65.28 marks respectively.
- On the other side, initial supports are seen at 64.40, 64.22, 64.05, 63.85 and 63.68 marks respectively.
- India’s NSE Nifty was trading around 0.40 percent lower at 10,078.95 points and BSE Sensex was trading at 0.20 percent lower 32,735.05 points.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- RBI will release interest rate decision at 0900 GMT.
We prefer to take short position in USD/INR only below 64.40, stop loss at 64.55 and target of 64.22/64.05.
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