- USD/INR is currently trading around 64.34 marks.
- It made intraday high at 64.37 and low at 64.27 marks.
- Intraday bias remains neutral till the time pair holds key support at 63.95 marks.
- Key resistances are seen at 64.39, 64.52, 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 64.22, 64.07, 63.95, 63.65, 63.47 and 63.36 marks respectively.
- In addition, India’s NSE Nifty was trading around 0.16 percent lower at 9,660.55 points and BSE Sensex was trading at 0.10 percent lower at 31,276.63 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 only below 64.22, stop loss at 64.39 and target of 63.95.
