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FxWirePro: USD/INR hovers around key support at 65.20 mark, sustained close below targets 64.98 mark

  • USD/INR is currently trading around 65.26 marks.
     
  • It made intraday high at 65.35 and low at 65.21 marks.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 65.48 marks.
     
  • Key resistances are seen at 65.48, 65.72, 65.85, 65.98, 66.20, 66.46, 66.68 and 66.79 marks respectively.
     
  • On the other side, initial supports are seen at 65.20, 65.08, 64.82, 64.64, 64.53 and 64.29 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
     
  • India’s NSE Nifty was trading around 0.36 percent higher at 10,020.55 points and BSE Sensex was trading at 0.27 percent higher 31,920.73 points.

We prefer to take short position in USD/INR only below 65.20, stop loss at 65.48 and target of 64.98.

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