- USD/INR is currently trading around 63.49 marks.
- It made intraday high at 63.61 and low at 63.42 marks.
- Intraday bias remains bearish till the time pair holds immediate resistance at 63.80 mark.
- Key resistances are seen at 63.62, 63.80, 63.96, 64.07, 64.15, 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 63.42, 63.34, 63.17, 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 0.23 percent higher at 10,676.70 points and BSE Sensex was trading at 0.25 percent higher 34,589.36 points.
We prefer to take short position in USD/INR around 63.52, stop loss at 63.65 and target of 63.17.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
