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FxWirePro: USD/INR rejects key support at 64.52 mark, intraday bias remains slightly bullish

  • USD/INR is currently trading around 64.73 marks.
     
  • It made intraday high at 64.82 and low at 64.54 marks.
     
  • Intraday bias remains bullish till the time pair holds key support at 64.52 mark.
     
  • Key resistances are seen at 64.87, 64.95, 65.12, 65.28, 65.49, 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 64.52, 64.38, 64.29 and 64.05 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 0.30 percent lower at 10,357.35 points and BSE Sensex was trading at 0.27 percent lower 33,581.78 points.

We prefer to take long position in USD/INR around 64.65, stop loss at 64.52 and target of 64.95/65.12.

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