FxWirePro: USD/INR trades in stiff directions, consistent close below 64.00 requires for downside rally

• USD/INR is currently trading around 64.03 marks.
   
• It made intraday high at 64.05 and low at 64.00 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 64.00 marks.
   
• Key resistances are seen at 64.12, 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 64.01, 63.95, 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 0.11 percent higher at 9,862.15 points and BSE Sensex was trading at 0.05 percent higher at 31,590.77 points.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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