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FxWirePro: Indian rupee trades marginally lower against U.S. dollar, faces strong support at 64.75 mark

  • USD/INR is currently trading around 64.84 marks.
     
  • It made intraday high at 64.84 and low at 64.76 marks.
     
  • Intraday bias remains slightly bullish till the time pair holds key support at 64.75 marks.
     
  • Key resistances are seen at 64.98, 65.13, 65.20, 65.35, 65.48, 65.72, 65.85, 65.98, 66.20, 66.46, 66.68 and 66.79 marks respectively.
     
  • On the other side, initial supports are seen at 64.75, 64.53 and 64.29 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
     
  • India’s NSE Nifty was trading around 0.45 percent higher at 10,214.55 points and BSE Sensex was trading at 0.55 percent higher 32,610.73 points.

We prefer to take short position in USD/INR only below 64.75, stop loss at 65.13 and target of 64.53/64.38.

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