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FxWirePro: Indian rupee rises gradually against U.S. dollar, stay bearish

  • USD/INR is currently trading around 64.63 marks.
     
  • It made intraday high at 64.74 and low at 64.63 marks.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 64.79 marks.  
     
  • Key resistances are seen at 64.82, 64.92, 65.08, 65.15, 65.34, 65.48, 65.64, 65.80, 66.00, 66.32, 66.48, 66.57, 66.80, 67.01, 67.17, 67.31 and 67.45 marks respectively.
     
  • On the other side, initial supports are seen at 64.57, 64.47, 34.36, 64.28, 64.17, 64.02 and 63.91 marks respectively.

  • In addition, India’s NSE Nifty was trading around 0.21 percent higher at 9,155.35 points and BSE Sensex was trading at 0.17 percent higher at 29,472.96 points.

We prefer to go short on USD/INR around 64.65, stop loss 64.80 and target of 64.47/64.36.

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