FxWirePro: USD/INR rejects key resistance at 63.92 mark, stay bearish

• USD/INR is currently trading around 63.77 marks.
   
• It made intraday high at 63.85 and low at 63.75 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 63.92 marks.
   
• Key resistances are seen at 63.92, 64.03, 64.22, 64.48, 64.60, 64.82, 64.98, 65.09, 65.18, 65.34, 65.52 and 65.80 marks respectively.
   
• On the other side, initial supports are seen at 63.75, 63.62, 63.53, 63.36 and 63.11 marks respectively.
   
• In addition, India’s NSE Nifty was trading around 0.60 percent lower at 9,997.15 points and BSE Sensex was trading at 0.65 percent lower at 32,063.74 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 63.78, stop loss at 63.92 and target of 63.53.

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