The Rupee fell to its lowest in anticipation of more capital outflows with Asian shares falling but dollar sales by state-run banks probably on behalf of central bank curbed a further drop.
Tech Outlook:
USDINR is expected to trade in the range of 47.20-47.50.With good support seen at 47.15 levels and key resistance is seen at 47.55 break of which will see 47.80 levels. Stochastic and Relative strength index are seen trending up but caution required as currency is trading near the upper Band level and are seen at overbought level.
USDINR is expected to trade in the range of 47.20-47.50.With good support seen at 47.15 levels and key resistance is seen at 47.55 break of which will see 47.80 levels. Stochastic and Relative strength index are seen trending up but caution required as currency is trading near the upper Band level and are seen at overbought level.
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