Dollar-rupee futures weakened on Thursday against US dollar. USDINR September contract moved down 7 paise or 0.12% at 60.76 as against previous close of 60.83.
ICICIdirect expects the US dollar to garner buying support on declines against the rupee. ''Utilise declines in the USD/INR September contract to buy Buy. USD/INR September futures in the range of 60.80-60.95 with target 60.70-60.50.''
''SPOT USDINR prices have crucial support at 60.30 and as far as prices are holding this support, prices are expected to trade sideways to higher. Immediate resistance at 60.60. A breakdown below 60.30 can take prices further lower towards 60.10,'' said Emkay Global Financial Services.
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