``USDINR trend remains firm till price manages to trade above 54.89 levels, where 9-Day EMA falls, targeting 55.25 followed by 55.50. Any intraday declines could hold at 54.90-54.88 and rise towards 55.20 levels,`` said Emkay Global Financial Services.

The partially convertible rupee closed at 55.11/12 per dollar compared with 55.0950/1050 at Tuesday's close. The Euro recovered as policymakers showed optimism on releasing emergency aid to Greece.    

``We expect Indian rupee to go weaker, as uncertainties over Greece and the fiscal cliff continue while the winter session of Indian Parliament begins today result in buying of dollars,`` it said.

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