FxWirePro: USD/INR hovers around key resistance at 64.94 mark, sustained close above targets 65.52 mark
Wednesday, May 24, 2017 6:10 AM UTC
- USD/INR is currently trading around 64.91 marks.
- It made intraday high at 64.96 and low at 64.81 marks.
- Intraday bias remains neutral till the time pair holds key resistance at 64.96 marks.
- Key resistances are seen at 64.94, 65.02, 65.18, 65.34, 65.52 and 65.80 marks respectively.
- On the other side, initial supports are seen at 64.68, 64.51, 64.27, 64.07, 63.95, 63.65, 63.47 and 63.36 marks respectively.
- In addition, India’s NSE Nifty was trading around 0.30 percent higher at 9,416.55 points and BSE Sensex was trading at 0.50 percent higher at 30,513.55 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 65.02, stop loss 64.68 and target of 65.20/65.52.