The Rupee stayed close to 2-week lows as losses in other regional share markets raised worries foreigners could withdraw funds from local stocks. U.S. Dollar continued where it left off on Friday and gained heavily against most currencies. Stocks were mixed, as were metals with Oil bouncy but copper struggling under heaving profit taking. Markets were quieter than usual with Australia away during the Asian session. Crude Oil finished down -$0.38 at $68.05. Looking ahead for Treasury Sec Geithner to Speak.
Technical analysis
USDINR is expected to trade in a bullish note for the day. With the trading range between 47.30-47.85 levels for the day. Good support is seen at 47.20 levels and key resistance is seen at 47.93 levels. Stochastic is trending up and the currency is seen trading above the moving averages and on the upper bollingers giving a caution signal.
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