• FxWirePro: USD/INR hits fresh 2-week low at 64.69 mark, stay bearish

    Source: FxWire Pro - Technicals / 22 Nov 2017 00:51:08   Eastern Standard Time

    • USD/INR is currently trading around 64.75 marks.
       
    • It made intraday high at 65.83 and low at 64.69 marks.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 65.12 mark.
       
    • Key resistances are seen at 65.12, 65.28, 65.49, 65.72, 65.85, 65.98, 66.20, 66.46, 66.68 and 66.79 marks respectively.
       
    • On the other side, initial supports are seen at 64.61, 64.48, 64.38, 64.29 and 64.05 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
       
    • India’s NSE Nifty was trading around 0.10 percent higher at 10,348.35 points and BSE Sensex was trading at 0.30 percent higher 33,580.22 points.

    We prefer to take short position in USD/INR around 64.78, stop loss at 65.02 and target of 64.48.

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