Rupee appreciated by another 35 paise against the US dollar in early trade following increased dollar selling by exporters amidst expectations of higher opening on the bourses in anticipation of drop in the inflation rate. USDINR is expected to range bound between 47.50-48.06 for the day. With good support seen at 47.40 levels and key resistance is seen at 48.15 levels. Stochastic is seen trending down and currency is also seen trading below the moving average.
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