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FxWirePro: USD/INR hits fresh 6-week high at 65.18 mark, sustained close above targets 65.80 mark

  • USD/INR is currently trading around 64.80 marks.
     
  • It made intraday high at 64.94 and low at 64.72 marks.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 64.94 marks.  
     
  • Key resistances are seen at 64.94, 65.08, 65.18, 65.34, 65.48 and 65.80 marks respectively.

  • On the other side, initial supports are seen at 64.72, 64.48, 64.27, 64.07, 63.95, 63.65, 63.47 and 63.36 marks respectively.
     
  • In addition, India’s NSE Nifty was trading around 0.72 percent higher at 9,497.55 points and BSE Sensex was trading at 0.72 percent higher at 30,653.03 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 go long on USD/INR only above 64.94, stop loss 64.48 and target of 65.18/65.48/65.80.
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