USDINR September opens steeply low today, trading at 71.50, down 0.3050 or 0.44% due to persistent recovery in the stock market led by risk on mode.
Upside Key Resistance is at 72.00, above which only prices will resume UP Trend.
Downside Key support is at 70.80.
USDINR Spot key support of 71.35 is taken out today, close below the same will trigger fresh round of rally in the rupee. Upside, resistance lies at 71.90. Prices are likely to correct towards 70.70.
US Dollar Index against the basket of six major currencies rose by 0.02% to 98.645 amid upcoming meeting of European Central Bank and high expectations of rate cut by Fed in their upcoming meet.
Story by Shelly Airan for tarunsatsangi.com