Rupee eased in early trade as higher oil prices revive worries about a widening trade deficit and banks sold the greenback expecting inflows from foreign funds as local share were seen on a positive note.A lower rate in offshore non-deliverable forwards market also prompted some banks to cut dollar positions.USDINR is expected to stay in red with the trading range expected between 45.17-45.60 levels. With good support seen at 45.10 levels and key resistance is seen at 45.70 levels. Chart pattern indicates a bear note. Stochastic is also seen trending down supporting the view.
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