Rupee higher; U.S. non-farm payroll data key

Reuters Market Eye - The rupee opens higher, tracking euro's gains versus global dollar. The pair is at 54.83/85, compared with 54.87/88 last close.

Dealers expect INR to remain bearish in the near term on political as well as current account deficit concerns.

Local stocks see two sessions of big falls, raising concerns about foreign fund pullout.

Technical charts show next key resistance at 55.15, the March 4 high and the important 76.4 percent retracement on the 55.89-52.87 decline.

However, 54.95-55.00 should cap ahead of the U.S. non-farm payroll data.

(Reporting by Subhadip Sircar)