Indian rupee has depreciated on Monday against US dollar. Indian currency declined 10 paise or 0.16 percent against dollar to trade at 63.67. Rupee has witnessed a high of 63.63 and a low of 63.71. Its 52-week range was 58.34-63.89.

Commenting on the currency outlook, Emkay Commodiy Research expects USDINR pair to have immediate resistance at 63.65-70 levels and as far as trading below 63.80, can trade sideways to lower towards 63.45-63.40. "Pair  can see fresh selling only below 63.40 towards 63.25. On higher side, only a breakout above 63.80 can take pair higher else pair should come down."

Meanwhile, ICICIdirect expects the US dollar to garner buying support on declines against the rupee. ''Utilize declines in the USD/INR January contract to buy. Buy USD/INR December futures in the range of 63.70-63.80 with target 64.00-64.20.''

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