FxWirePro: USD/INR fails to sustain below key support at 64.48 mark, bias remains neutral

• USD/INR is currently trading around 64.55 marks.
   
• It made intraday high at 64.62 and low at 64.54 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 64.64 marks.  
   
• Key resistances are seen at 64.64, 64.72, 64.82, 64.92, 65.02, 65.18, 65.34, 65.52 and 65.80 marks respectively.
   
• On the other side, initial supports are seen at 64.48, 64.32, 64.27, 64.18, 64.07, 63.95, 63.65, 63.47 and 63.36 marks respectively.
   
• In addition, India’s NSE Nifty was trading around 0.43 percent lower at 9,587.50 points and BSE Sensex was trading at 0.19 percent lower at 31,230.44 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 around 64.55, stop loss at 64.64 and target of 64.45/64.27/64.18.

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