- USD/INR is currently trading around 63.95 marks.
- It made intraday high at 64.01 and low at 63.92 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 64.02 mark.
- Key resistances are seen at 64.02, 64.15, 64.27, 64.48, 64.67, 64.78, 64.87, 64.95, 65.12 and 65.28 marks respectively.
- On the other side, initial supports are seen at 63.92, 63.80, 63.68 and 63.45 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 0.02 percent lower at 10,461.95 points and BSE Sensex was trading at 0.26 percent higher 33,928.59 points.
We prefer to take short position in USD/INR around 63.98, stop loss at 64.15 and target of 63.75.
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