Rupee extended fall against the U.S. dollar as banks continued to buy greenback to meet demand from importers. Strong demand from importers also prompted some banks to cover short dollar positions. Market players are nervous over the political uncertainty. Asian equity markets are also negative.
Tech outlook:
USD/INR is expected to be highly volatile for the day as bollingers are wide open. It is expected to trade in the range of 42.65-42.95.With good support is seen 42.58 and resistance 42.97 levels.
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