Rupee weakened against the U.S. dollar because banks bought the greenback anticipating outflow from foreign funds as local shares are seen falling today. Dollar's rise against other global units also prompted banks to purchase the greenback.
Tech view feb 02
USDINR chart pattern gives mixed signals and currency is expected to trade in the range of 48.94-49.26 levels for the day. With good support seen at 48.88 levels . key resistance is seen at 49.32 levels. Stochastic is seen trending up and the currency is seen trading above the moving average.
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