Rupee weakened against the U.S. dollar raising worries of higher trade deficit as banks bought the greenback noting its rise against most Asian currencies and rise in global crude oil prices. However, dollar sales from exporters around 42.20-42.24.24.
Tech View:
USD/INR is expected to trade in a bull note for the day. With the trading range of 42.10-42.38.With good support seen at 42.05 levels and key resistance is seen at 42.42 levels. Currency is trading on the moving average only a break above can confirm the trend. Stochastic has turned from oversold levels.
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