FxWirePro: USD/INR trades in narrow range, bias remains bearish

• USD/INR is currently trading around 64.50 marks.
   
• It made intraday high at 64.55 and low at 64.44 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 65.02 marks.  
   
• Key resistances are seen at 64.75, 64.94, 65.02, 65.18, 65.34, 65.48 and 65.80 marks respectively.
   
• On the other side, initial supports are seen at 64.27, 64.07, 63.95, 63.65, 63.47 and 63.36 marks respectively.
   
• In addition, India’s NSE Nifty was trading around 0.40 percent higher at 9,465.55 points and BSE Sensex was trading at 0.50 percent higher at 30,624.46 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 short on USD/INR around 64.52, stop loss 64.74 and target of 64.27/63.95.