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FxWirePro: USD/INR hovers around key resistance at 64.52 mark, consistent close above targets 64.72 mark

  • USD/INR is currently trading around 64.44 marks.
     
  • It made intraday high at 64.50 and low at 64.38 marks.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 64.52 marks.  
     
  • Key resistances are seen at 64.51, 64.62, 64.75, 64.92, 65.02, 65.18, 65.34, 65.52 and 65.80 marks respectively.
     
  • On the other side, initial supports are seen at 64.34, 64.18, 64.07, 63.95, 63.65, 63.47 and 63.36 marks respectively.
     
  • In addition, India’s NSE Nifty was trading around 0.22 percent higher at 9,637.51 points and BSE Sensex was trading at 0.16 percent higher at 31,146.66 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 only below 64.38, stop loss at 64.52 and target of 63.95.

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