- USD/INR is currently trading around 63.83 marks.
- It made intraday high at 64.00 and low at 63.53 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 63.82 mark.
- Key resistances are seen at 63.72, 63.82, 63.96, 64.05, 64.12, 64.28 and 64.58 marks respectively.
- On the other side, initial supports are seen at 63.48, 63.38, 63.27, 63.18, 63.10, 62.84, 62.67, 62.48 and 61.96 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 0.37 percent higher at 11,067.70 points and BSE Sensex was trading at 0.32 percent higher 36,080.80 points.
- India Jan Nikkei Markit manufacturing PMI decrease to 52.4 (forecast 54.5 ) vs previous 54.7.
We prefer to take long position in USD/INR only above 64.02, stop loss at 63.48 and target of 64.58.
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