FxWirePro: Indian rupee trades marginally higher ahead of manufacturing output, CPI data

• USD/INR is currently trading around 64.53 marks.
   
• It made intraday high at 64.59 and low at 64.51 marks.
   
• Intraday bias remains neutral till the time pair holds key support at 64.45 marks.  
   
• Key resistances are seen at 64.63, 64.85, 64.98, 65.09, 65.18, 65.34, 65.52 and 65.80 marks respectively.
   
• On the other side, initial supports are seen at 64.45, 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 0.09 percent higher at 9,796.70 points and BSE Sensex was trading at 0.14 percent higher at 31,792.72 points.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• India will release industrial output and manufacturing output data at 1130 GMT. In addition, India will release CPI data at 1200 GMT.

We prefer to take short position in USD/INR only below 64.46, stop loss at 64.63 and target of 64.32/64.18.

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