FxWirePro: USD/INR fails to find support below 63.80 mark, bias remains slightly bullish

• USD/INR is currently trading around 63.89 marks.
   
• It made intraday high at 63.96 and low at 63.79 marks.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 63.80 mark.
   
• Key resistances are seen at 63.96, 64.05, 64.12, 64.27, 64.48, 64.67, 64.78, 64.87, 64.95, 65.12 and 65.28 marks respectively.
   
• On the other side, initial supports are seen at 63.80, 63.47, 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. Current upside movement is short term trend correction only.
   
• India’s NSE Nifty was trading around 0.28 percent higher at 10,924.70 points and BSE Sensex was trading at 0.32 percent higher 35,628.06 points.

We prefer to take short position in USD/INR only below 63.80, stop loss at 64.02 and target of 63.47.

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