USD/INR ( Spot ) levels crossed 65 indian currency depreciated almost 5% in last 2 weeks and now its trading near 2 year low , Indian rupee has an edge due to indian stock market which is resisting a fall despite that much depreciation , now if usd/inr click resistance at 66.20 and close above this technical hurdle then expect usd/inr to fire upto 66.90 – 67.60 and even more rise in usd/inr not ruled out
If usd/inr click our technical support at 64.20 and manage to close beneath this major hurdle then expect a recovery in rupee upto 63.50 – 62.70
Indian rupee levels conclusion : Rupee looking weak and its looking to get weaker today , Trend is weak so avoid any buying in rupee , usd/inr may hit upto 66 in short term
More will update if required