FxWirePro: USD/INR jumps above 64.50 mark, stay bullish

• USD/INR is currently trading around 64.64 marks.
   
• It made intraday high at 64.66 and low at 64.47 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 64.36 marks.  
   
• Key resistances are seen at 64.67, 64.78, 64.92, 65.03, 65.19, 65.34, 65.48, 65.64, 65.80, 66.00, 66.32, 66.48, 66.57, 66.80, 67.01, 67.17, 67.31 and 67.45 marks respectively.
   
• On the other side, initial supports are seen at 64.47, 34.36, 64.28, 64.17, 64.02 and 63.91 marks respectively.
   
• In addition, India’s NSE Nifty was trading around 0.83 percent higher at 9,214.20 points and BSE Sensex was trading at 0.90 percent higher at 29,675.26 points.
   
• Yesterday India released WPI inflation data.
   
• India’s March WPI inflation y/y decreases to 5.70 % (forecast 5.98 %) vs previous 6.55 %.
   
• India’s March WPI food y/y increase to 3.12 % vs previous 2.69 %.
   
• India’s March WPI fuel y/y decrease to 18.16 % vs previous 21.02 %.
   
• India’s March WPI manufacturing inflation y/y decrease to 2.99 % vs previous 3.66 %.

We prefer to go long on USD/INR around 64.58, stop loss 64.36 and target of 64.82.