Rupee opened lower, Dollar higher vs. Yen The Indian rupee opened the day lower at 61.44/45 levels compared to its previous close at 61.31/32 levels with sentiment cautious ahead of the Federal Reserves meeting this week. Rupee slipped to 61.60/61 levels in early deals. All Asian currencies are trading mixed versus the dollar. Equity markets extended gains to open marginally higher led by index heavyweights. On technical chart USDINR pair seems to be stuck in a range bound market taking support and resistance at lower & median line of Bollinger band. Intraday 61.58-61.64 will provide immediate support to the rupee. In case rupee falls below this zone with good momentum then the next support for it will emerge only around 61.90-62.00 levels. On the other side any strength in the rupee will be met with a resistance first around 61.30-61.35 levels followed by 61.17 levels. Intraday range for rupee may be 61.27-61.67. Trend for the day– Range bound movement expected.
Posted on: Wed, 30 Oct 2013 04:54:41 +0000
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