FxWirePro: USD/INR stabilizes below 64.00 mark, stay bearish

• USD/INR is currently trading around 63.88 marks.
   
• It made intraday high at 63.91 and low at 63.84 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 63.82 marks.
   
• Key resistances are seen at 64.08, 64.25, 64.32, 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 63.82, 63.75, 63.62, 63.48, 63.36 and 63.11 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• India’s NSE Nifty was trading around 0.57 percent higher at 9,912.15 points and BSE Sensex was trading at 0.46 percent higher at 31,747.77 points.

We prefer to take short position in USD/INR around 63.92, stop loss at 64.08 and target of 63.75.

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