• FxWirePro: Indian Rupee trades marginally lower against U.S. Dollar, faces strong support at 63.85 mark

    Source: FxWire Pro - Technicals / 20 Dec 2017 23:12:17   America/New_York

    • USD/INR is currently trading around 63.91 marks.
       
    • It made intraday high at 63.93 and low at 63.87 marks.
       
    • Intraday bias remains neutral till the time pair holds key support at 63.85 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 63.85, 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 0.16 percent higher at 10,460.95 points and BSE Sensex was trading at 0.17 percent higher 33,826.59 points.

    We prefer to take short position in USD/INR only below 63.85, stop loss at 64.02 and target of 63.75/63.56.

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