FxWirePro: USD/INR fails to find support above 63.82 mark, bias remains slightly bearish

• USD/INR is currently trading around 63.71 marks.
   
• It made intraday high at 63.81 and low at 63.64 marks.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 63.82 mark.
   
• Key resistances are seen at 63.82, 63.96, 64.05 and 64.12 marks respectively.
   
• On the other side, initial supports are seen at 63.57, 63.48, 63.38, 63.27, 63.18, 63.10, 62.84, 62.67, 62.48 and 61.96 marks respectively.

• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• India’s NSE Nifty was trading around 0.77 percent higher at 11,154.70 points and BSE Sensex was trading at 0.77 percent higher 36,326.80 points.

We prefer to take long position in USD/INR only above 63.82, stop loss at 63.60 and target of 63.96.

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