Utilise downsides in the pair to initiate long positions.
The Indian rupee slipped further in the early trade on Friday. It has opened lower by 20 paise at 69.25 per dollar versus previous close 69.05.
On August 1, Indian rupee fell 27 paise to close at a near five-week low of 69.05 against the US dollar amid heavy selling in domestic equities.
The dollar-rupee August contract on the NSE was at 69.25 in the previous session. Open interest increased 0.10% in the previous session.
We expect the USD-INR to find support at lower levels. Utilise downsides in the pair to initiate long positions, it added.
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