2017.05.2601:42:00UTC+00Fxwirepro: Indian Rupee Trades Marginally Lower Against U.s. Dollar, Faces Immediate Resistance at 64.65 Mark

• USD/INR is currently trading around 64.60 marks.
   
• It made intraday high at 64.62 and low at 64.51 marks.
   
• Intraday bias remains bullish till the time pair holds key support at 64.40 marks.  
   
• Key resistances are seen at 65.02, 65.18, 65.34, 65.52 and 65.80 marks respectively.


• On the other side, initial supports are seen at 64.48, 64.40, 64.35, 64.27, 64.07, 63.95, 63.65, 63.47 and 63.36 marks respectively.
   
• In addition, India’s NSE Nifty was trading around 0.33 percent higher at 9,542.55 points and BSE Sensex was trading at 0.42 percent higher at 30,877.74 points.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.