Technically rupee is weak. The reserve bank of Indian at 11:00 am IST will be the key. Gains for the rupee will be there if the RBI cuts repo rates by 0.25%. A cash reserve ratio (CRR) rate cut of 0.25% has already been factored in by the markets. Do not go heavily long despite the technical weakness and watch for signs of reversal. TECHNICAL VIEW US-DOLLAR – INDIAN RUPEE (USD/INR) DECEMBER – (CURRENT PRICE 54.9500) Bullish over 54.8400 with 55.1225 and 55.550 as price target Bearish
