- USD/INR is currently trading around 64.34 marks.
- It made intraday high at 64.48 and low at 64.29 marks.
- Intraday bias remains bullish till the time pair holds key support 64.02 mark.
- Key resistances are seen at 64.48, 64.65, 64.82 and 65.12 marks respectively.
- On the other side, initial supports are seen at 64.02, 63.87, 63.70, 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. Current upside movement is short term trend correction only.
- India’s NSE Nifty was trading around 2.82 percent lower at 10,365.70 points and BSE Sensex was trading at 3.01 percent lower 33,711.78 points.
We prefer to take short position in USD/INR only below 64.22, stop loss at 64.48 and target of 64.02.
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