Rupee weakened against the U.S. dollar because most foreign banks were said to be buying the greenback anticipating demand from foreign funds as local shares were down about 1%.
TECH VIEW:
Rupee is expected to be trade in the range of 42.75-43.02.With good support seen at 42.70 levels and key resistance is seen at 43.06 levels. Stochastic and Relative Market strength index are supporting a bull run in the currency. Indian unit is also seen trading well above the fast moving averages and is expected to test the upper Bollingers.
Rupee is expected to be trade in the range of 42.75-43.02.With good support seen at 42.70 levels and key resistance is seen at 43.06 levels. Stochastic and Relative Market strength index are supporting a bull run in the currency. Indian unit is also seen trading well above the fast moving averages and is expected to test the upper Bollingers.
No comments:
Post a Comment