Rupee was marginally higher against the dollar as few banks were said to be selling dollars noting the greenback's fall against major currencies. Softening global oil prices calmed worries of a widening trade deficit but a subdued outlook for stocks kept traders uneasy about foreign flows.
Tech Outlook:
Rupee is expected to trade sideways .With the trading range of 42.80-42.96.With good support seen at 42.75 levels and key resistance is seen at 43.00 levels. Currency is seen trading on the moving average. Stochastic lies in overbought area giving a caution signal.
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