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12 December, 2017 04:28 IST
Sell USD/INR July futures in 64.80-64.90 range: ICICIdirect
Source: IRIS | 29 Jun, 2017, 09.02AM
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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.

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