FxWirePro: USD/INR rejects key support at 64.42 mark, sustained close above targets 64.70 mark

• USD/INR is currently trading around 64.48 marks.
   
• It made intraday high at 64.48 and low at 64.42 marks.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 64.42 marks.  
   
• Key resistances are seen at 64.49, 64.62, 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 64.42, 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 0.48 percent lower at 9,528.50 points and BSE Sensex was trading at 0.30 percent lower at 31,048.48 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.

We prefer to take short position in USD/INR only below 64.42, stop loss at 64.55 and target of 64.27/64.18.

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