- USD/INR is currently trading around 64.60 marks.
- It made intraday high at 64.62 and low at 64.51 marks.
- Intraday bias remains bullish till the time pair holds key support at 64.40 marks.
- Key resistances are seen at 65.02, 65.18, 65.34, 65.52 and 65.80 marks respectively.
- On the other side, initial supports are seen at 64.48, 64.40, 64.35, 64.27, 64.07, 63.95, 63.65, 63.47 and 63.36 marks respectively.
- In addition, India’s NSE Nifty was trading around 0.33 percent higher at 9,542.55 points and BSE Sensex was trading at 0.42 percent higher at 30,877.74 points.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
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.