The partially convertible rupee weakened past 43 per dollar to its lowest level in 13 months in opening deals on Thursday, as record oil prices raised worries of a widening trade deficit.
As long as the currency pair holds above Rs 43, there would be the possibility of a move higher to Rs 43.53 or Rs 43.82. A decline below Rs 42 would imply that the near term trend has turned negative and that the currency pair could move towards Rs 41.6 or Rs 41.2.
Supports – 42.2, 41.9, 41.3
Resistances –, 43.2, 43.5
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