ICICIdirect expects the USD to find supports at lower levels. ''Utilise downsides in the pair to go long on the USDINR pair. March futures in the range of 65.00-65.10 with target  65.25-65.35.''

The rupee rose to a 17-month high against the dollar, as US President Donald Trump's failure to secure lawmakers' approval for a healthcare bill raised concerns about the fate of his other reforms proposals, which led dollar index testing four-month lows.

The USD posted recovery against major currencies with dollar index ending almost 0.55% to end at 99.71 level. Higher consumer confidence data supported rise in USD. The upcoming US March employment data will be a catalyst for further trends in the USD.

In the currency futures market, the most traded dollar-rupee April contract on the NSE ended at 65.27. The April contract open interest rose 8.54% from the previous day. May contract open interest rose 16.56% from the previous day.

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