- USD/INR is currently trading around 63.64 marks.
- It made intraday high at 63.69 and low at 63.59 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 63.95 marks.
- Key resistances are seen at 63.70, 63.95, 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 63.53, 63.36 and 63.11 marks respectively.
- In addition, India’s NSE Nifty was trading around 0.08 percent higher at 10,021.77 points and BSE Sensex was trading at 0.02 percent higher at 32,240.09 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 63.66, stop loss at 63.95 and target of 63.11.
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