Rupee on a narrow trade

Rupee was seen marginally higher as some banks sold dollars expecting inflows from exporters and foreign funds. But the gains were limited on the view that RBI may buy dollars

tech view

Rupee is expected to trade in the narrow range of 39.85-40.00.With good support seen at 39.80 and key resistance for the currency is seen at 40.05 levels. Currency is seen trading above the fast moving averages and the Relative Market strength index is also hinting the currency to give a slight upward correction for the day.