ICICIdirect expects the USD to find resistance at higher levels. ''Utilise upsides in the pair to go short on the USDINR pair. June futures in the range of 64.63-64.73 with target 64.45-64.35.'' 

The rupee fell to a more-than-three-week low against USD, weighed down by profit booking in domestic equities amid strength in USD. The USD remains in a range as forex movement remain calm in absence of any major trigger. Traders await US June employment data for cue on the rate hike trajectory for 2017.

USDJPY would remain in focus ahead of US employment and Japan CPI data. Both major central banks remain on a widening divergent monetary path . In the currency futures market, the most traded dollar-rupee June contract on the NSE ended at 64.62. The June contract open interest increased 4.51% from the previous day. July contract open interest increased 7.32% in the previous session.

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