FxWirePro: USD/INR breaks resistance at 64.22 mark, stay bullish

• USD/INR is currently trading around 64.22 marks.
   
• It made intraday high at 64.29 and low at 64.14 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 63.96 marks.
   
• Key resistances are seen at 64.22, 64.48, 64.60, 64.82, 64.98, 65.09, 65.18, 65.34, 65.52 and 65.80 marks respectively.
   
• On the other side, initial supports are seen at 63.96, 63.75, 63.62, 63.48, 63.36 and 63.11 marks respectively.
   
• In addition, India’s NSE Nifty was trading around 0.73 percent lower at 9,738.15 points and BSE Sensex was trading at 0.92 percent lower at 31,239.55 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 take long position in USD/INR around 64.20, stop loss at 63.96 and target of 64.48.

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