Indian rupee opens marginally lower at 67.90 per dollar

The Indian rupee opened marginally lower by 6 paise at 67.90 per dollar on Monday versus 67.84 Friday.

On the daily chart, USD-INR has been falling down from last two trading sessions after taking a resistance of upper Bollinger band formation; which indicate bearish sentiments for near term.

In addition, Price has shifted below 21 DEMA on daily chart, which confirms downward trend for near term.

Moreover, a momentum indicator RSI (14) and MACD has turned down with negative crossover on daily chart.

So based on the above analysis, we expect bearish movement in USD-INR towards 67.50 levels, said Choice Broking.