• FxWirePro: USD/INR hovers around key resistance at 64.48 mark, sustained close above targets 64.75 mark

    Source: FxWire Pro - Technicals / 12 Dec 2017 01:03:45   Eastern Standard Time

    • USD/INR is currently trading around 64.48 marks.
       
    • It made intraday high at 64.50 and low at 64.34 marks.
       
    • Intraday bias remains bullish till the time pair holds key support at 64.27 mark.
       
    • Key resistances are seen at 64.48, 64.62, 64.75, 64.87, 64.95, 65.12 and 65.28 marks respectively.
       
    • On the other side, initial supports are seen at 64.27, 64.10, 63.98, 63.85 and 63.68 marks respectively.
       
    • India’s NSE Nifty was trading around 0.47 percent lower at 10,274.95 points and BSE Sensex was trading at 0.36 percent lower 33,334.92 points.
       
    • 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.

    We prefer to take short position in USD/INR around 64.52, stop loss at 64.63 and target of 64.27/64.10.

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