ICICIdirect expects the USD find supports at lower levels. ''Utilise upsides in the pair to go long on the USDINR pair. July futures in the range of 64.80-64.90 with target 65.20-65.30.'' 

The rupee fell to a one-month low against the USD in line with weaker emerging currencies, as domestic dollar demand outweighing broad dollar weakness amid bets European economies were likely to see a rise in interest rates, going ahead.

The USD has breached its crucial support level at 96-level, failing to track rising yields. A sharp appreciation in the Euro and British pound with even some recovery in Japanese Yen weighed on the USD. USD could remain under pressure if US employment data is lower than expected which could weigh on rate hike sentiment.

In the currency futures market, the most traded dollar-rupee July contract on the NSE ended at 64.86. The July contract open interest increased 3.99% from the previous day. August contract open interest increased 8.54% in the previous session.

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