• FxWirePro: Indian Rupee rises gradually against U.S. Dollar, stay bearish

    Source: FxWire Pro - Technicals / 20 Dec 2017 02:09:06   America/New_York

    • USD/INR is currently trading around 63.95 marks.
       
    • It made intraday high at 64.01 and low at 63.92 marks.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 64.02 mark.
       
    • Key resistances are seen at 64.02, 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 63.92, 63.80, 63.68 and 63.45 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 0.02 percent lower at 10,461.95 points and BSE Sensex was trading at 0.26 percent higher 33,928.59 points.

    We prefer to take short position in USD/INR around 63.98, stop loss at 64.15 and target of 63.75.

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