- 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.