Rupee gained against the dollar at open as banks sold the greenback noting that crude oil prices fell to a three-month low. Dollar sales from exporters may also help the Indian unit to gain against the greenback. However, dollar demand from importers around 42.45 could restrict a sharp rise in the rupee
Tech View:
USD/INR is expected to trade in bear note with the trading range of 42.20-42.46.With good support seen at 42.12 levels and key resistance for the currency is seen at 42.55.Stochastic is seen trending down and currency is also seen trading below the moving averages confirming the bear note.
No comments:
Post a Comment