- USD/INR is currently trading around 64.24 marks.
- It made intraday high at 64.31 and low at 64.18 marks.
- Intraday bias remains slightly bullish till the time pair holds key support at 64.18 marks.
- Key resistances are seen at 64.36, 64.50, 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 64.18, 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 lower at 9,596.51 points and BSE Sensex was trading at 0.08 percent higher at 31,180.66 points.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take short position in USD/INR only below 64.18, stop loss at 64.50 and target of 63.95/63.82.
