After consolidating for over a month, USD/INR staged a strong rally above 62.00 on the back of strong volumes.
Possibility of seeing higher levels on the pair remains as long as 61.90/85 is intact on a closing basis.
We expect a test 63.00/63.10 levels initially, with the possibility of the pair even extending towards 63.95/64.00 levels on spot.
The post is made on 07 Nov 2013.
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