Rupee erased early gains as banks bought dollars for importers and some oil companies. Exporters and importers are both active in the market .The fall in global crude oil prices could also keep the Indian currency from weakening sharply.
Tech View:
USD/INR expected to trade mixed. With the trading range expected between 42.15-42.42.Good support is seen at 42.13 levels and key resistance for the currency is seen at 42.56 levels. Stochastic is seen trending up supporting the bull view but the currency is trading on the moving average so only a crossover can confirm the trend.
USD/INR expected to trade mixed. With the trading range expected between 42.15-42.42.Good support is seen at 42.13 levels and key resistance for the currency is seen at 42.56 levels. Stochastic is seen trending up supporting the bull view but the currency is trading on the moving average so only a crossover can confirm the trend.
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