Dollar-rupee futures weakened on Wednesday against US dollar. USDINR September contract moved down 3 paise or 0.05% at 61 as against previous close of 61.03.
ICICIdirect expects the US dollar to garner buying support on declines against the rupee. ''Utilize declines in the USD/INR September contract to Buy in the range of 60.70-60.80 with target 60.98-61.08.''
''We expect the rupee to trade on a neutral to negative note against the dollar taking cues from positive economic data from US and strength in the dollar index. However, upbeat global and domestic market sentiments may cap sharp gains in the dollar,'' said Swastika Investmart.
''SPOT USDINR prices are gave trend line breakout in daily chart. Prices are now expected to have support at 60.50 levels and on higher side if prices sustain above 60.70 then 60.90 can be seen. Prices should not fall below 60.40 to hold the view for the day,'' said Emkay Global Financial Services.
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