USDINR Sep future has resistance at 68.4: Sushil Finance
Sushil Finance has come out with its report on Indian Rupee. According to the research firm, USDINR September future has resistance at 68.4/68.8 and support at 66.5/66.9
August 30, 2013 / 13:49 IST
Sushil Finance's report on currency
The Indian Rupee appreciated by 3.24 percent in the yesterday’s session on the back of upbeat global market sentiments. Further, central bank sold dollars to oil companies, supported currency to trade on positive note. However, strength in dollar Index, month end dollar demands from importers along with the rise in worries over country’s economic growth prevented further appreciation in the Indian Rupee.Outlook: We expect Indian Rupee to trade on mixed note as the strength in dollar Index, mixed global market sentiments, month end dollar demand from Importers along with concerns over country’ economic health may act as an undesirable factors for the currency. Whereas, RBI measures to curb volatility in FX may act as a positive factor for the Indian Rupee. Expectation of decline in country’s GDP may keep currency under pressure.Technical Outlook
Currency - USDINR Sep
Strategy - Sideways
Support - 66.5/66.9
Resistance - 68.4/68.8Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
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