Rupee edged lower following the dollar's gains against some Asian currencies but gains in regional stock markets are stemming a sharp slide. USDINR is expected to trade in a narrow band for the day and is expected to trade in the range of 48.50-48.85 levels for the day. With good support seen at 48.30 levels and breach of it would see 47.80. key resistance is seen at 49.00 levels. Stochastic is seen trending up giving bullish crossovers but tight band width indicates a narrow trade.
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