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FxWirePro: USD/INR hovers around 64.00 mark, faces strong support at 63.94

  • USD/INR is currently trading around 64.06 marks.

  • It made intraday high at 64.18 and low at 63.95 marks.
     
  • Intraday bias remains neutral till the time pair holds key support at 63.94 marks.  
     
  • Key resistances are seen at 64.15, 64.22, 64.40, 64.61, 64.74, 64.82, 64.92, 65.08, 65.15, 65.34, 65.48 and 65.64 marks respectively.
     
  • On the other side, initial supports are seen at 63.94, 63.65, 63.47 and 63.36 marks respectively.
     
  • In addition, India’s NSE Nifty was trading around 0.05 percent lower at 9,511.55 points and BSE Sensex was trading at 0.09 percent higher at 30,620.03 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 around 64.04, stop loss 63.94 and target of 64.15/64.22.

  • Market Data
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