The dollar has weakened against rupee and will continue to weaken further if it trades below 52.21, below which the support is at 51.90 and then 50.65. The immediate resistance is at 52.47 and 52.57. The recent weak trend of dollar will reverse only above 52.73. In the immediate term, a trend reversal does not seem likely and based
on the technical charts, it seems more likely that the dollar may weaken
further with trades mostly on short side.
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