Rupee weakened taking weak cues from Asian stock markets and a widening trade deficit hurt sentiment, but traders were wary of central bank intervention.
Tech Outlook:
USDINR is expected to trade in the range of 44.35-44.58 levels for the day. With good support seen at 44.23 levels and key resistance is seen at 44.62 Chart pattern indicates a mixed note for the day as stochastic is seen flat though in overbought levels. Currency is expected to give a slight downward correction as it has already tested the Upper Band levels.
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