• FxWirePro: USD/INR hovers around fresh 5-month low at 63.53 mark, sustained close below targets 61.96 mark

    Source: FxWire Pro - Technicals / 02 Jan 2018 03:14:20   America/New_York

    • USD/INR is currently trading around 63.57 marks.
       
    • It made intraday high at 63.70 and low at 63.55 marks.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 63.96 mark.
       
    • Key resistances are seen at 63.96, 64.07, 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 63.53, 63.12, 62.48 and 61.96 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 0.12 percent higher at 10,448.70 points and BSE Sensex was trading at 0.02 percent higher 33,812.06 points.

    We prefer to take short position in USD/INR only below 63.53, stop loss at 63.82 and target of 63.12/62.48.

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