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FxWirePro: Indian rupee trades marginally lower against U.S. dollar, sustained close below 64.00 targets 63.65 mark

  • USD/INR is currently trading around 64.11 marks.
     
  • It made intraday high at 64.12 and low at 64.03 marks.
     
  • Intraday bias remains neutral till the time pair holds key support at 64.04 marks.  
     
  • Key resistances are seen at 64.22, 64.40, 64.61, 64.74, 64.82, 64.92, 65.08, 65.15, 65.34, 65.48 and 65.64 marks respectively.
     
  • On the other side, initial supports are seen at 63.94, 63.65, 63.47 and 63.36 marks respectively.
     
  • In addition, India’s NSE Nifty was trading around 0.32 percent higher at 9,472.55 points and BSE Sensex was trading at 0.37 percent higher at 30,433.65 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 only below 64.03, stop loss 64.22 and target of 63.94/63.78/63.65.

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