- USD/INR is currently trading around 64.41 marks.
- It made intraday high at 64.43 and low at 64.27 marks.
- Intraday bias remains bullish till the time pair holds key support at 63.95 marks.
- Key resistances are seen at 64.40, 64.49, 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 64.22, 64.07, 63.95, 63.65, 63.47 and 63.36 marks respectively.
- In addition, India’s NSE Nifty was trading around 0.54 percent lower at 9,474.55 points and BSE Sensex was trading at 0.34 percent lower at 30,553.03 points.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to go long on USD/INR around 64.35, stop loss 64.22 and target of 64.49/64.60.