ICICIdirect expects the USD to meet supply pressure at higher levels. ''Utilise upsides in the pair to go short on the USDINR pair. July futures in the range of 64.47-64.57 with target 64.25-64.15.'' 

The rupee posted its biggest single-day fall against the dollar in over two weeks, as the USD remained supported ahead of the ECB monetary policy amid profit booking in domestic equities.

The USD fell sharply against major currencies gauged from USD index. Gains over the British pound were outweighed by sharp gains in euro. Post ECB meeting, euro gained almost 1% rising to almost two-year highs.

ECB President's comment on ''robust recovery'' over European economic growth led participants to turn bullish on euro prospects. USD was also outweighed by political concerns around the US President.

In the currency futures market, the most traded dollar-rupee July contract on the NSE ended at 64.48. The July contract open interest declined 2.50% from the previous day. August contract open interest increased 9.53% in the previous session.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.