2017.05.1501:10:00UTC+00Fxwirepro: Usd/inr Hits Fresh 3-Week Low at 64.04 Mark, Faces Strong Support at 63.94 Mark

• USD/INR is currently trading around 64.12 marks.
   
• It made intraday high at 64.22 and low at 64.04 marks.
   
• Intraday bias remains bearish till the time pair holds key resistance at 64.40 marks.  
   
• Key resistances are seen at 64.40, 64.61, 64.74, 64.82, 64.92, 65.08, 65.15, 65.34, 65.48, 65.64, 65.80, 66.00, 66.32, 66.48, 66.57, 66.80, 67.01, 67.17, 67.31 and 67.45 marks respectively.
   
• On the other side, initial supports are seen at 63.94, 63.65, 63.47 and 63.36 marks respectively.
   
• In addition, India’s NSE Nifty was trading around 0.32 percent higher at 9,430.55 points and BSE Sensex was trading at 0.50 percent higher at 30,336.65 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 go short on USD/INR around 64.15, stop loss 64.40 and target of 64.00/63.94/63.65.