- USD/INR is currently trading around 64.16 marks.
- It made intraday high at 64.28 and low at 64.11 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 64.28 mark.
- Key resistances are seen at 64.28, 64.48, 64.62, 64.85 and 65.12 marks respectively.
- On the other side, initial supports are seen at 64.10, 63.98, 63.87 and 63.70 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- India’s NSE Nifty was trading around 0.16 percent higher at 10,556.70 points and BSE Sensex was trading at 0.05 percent higher at 34,301.64 points.
- India will release WPI inflation data at 0630 GMT.
We prefer to take short position in USD/INR around 64.20, stop loss at 64.32 and target of 63.98.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
