ICICIdirect expects the USD to find resistance at higher levels. ''Utilise upsides in the pair to go short on the USDINR pair. July futures in the range of 64.80-64.90 with target 64.60-64.50.'' 

The rupee was little changed against the USD in lacklustre trade, as profit booking in domestic equities offset gains from a soft USD. Also, the rupee remained on edge ahead of the biggest domestic indirect tax reform in decades.

The USD continue to slide against major currencies with Euro-USD pair currently trading at 1.14 level. Japanese Yen continued to lose against majors as waning risk-off sentiment amid widening monetary policy is weighing on Japanese Yen.

In the currency futures market, the most traded dollar-rupee July contract on the NSE ended at 64.82. The July contract open interest increased 5.29% from the previous day. August contract open interest increased 11.66% in the previous session.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.