• FxWirePro: USD/INR remains well supported below 64.62 mark, good to sell on rallies

    Source: FxWire Pro - Technicals / 08 Dec 2017 01:42:00   Eastern Standard Time

    • USD/INR is currently trading around 64.43 marks.
       
    • It made intraday high at 64.54 and low at 64.41 marks.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 64.62 mark.
       
    • Key resistances are seen at 64.62, 64.75, 64.87, 64.95, 65.12 and 65.28 marks respectively.
       
    • On the other side, initial supports are seen at 64.40, 64.22, 64.05, 63.85 and 63.68 marks respectively.
       
    • India’s NSE Nifty was trading around 0.80 percent higher at 10,248.95 points and BSE Sensex was trading at 0.67 percent higher 33,169.02 points.
       
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

    We prefer to take short position in USD/INR around 64.45, stop loss at 64.62 and target of 64.22/64.05.

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