Rupee off highs; selling around 54.87 levels
The market is also unlikely to take big positions ahead of US non-farm payrolls later in the day
)
The rupee is off highs, now broadly trading flat on the day. The pair is at 54.86/87, after touching a low of 54.76. It closed at 54.87/88 on Thursday.
State-run bank dealer says weaker euro and domestic stocks hurting the rupee.
"There has been some selling at 54.87-88 levels. The next support for the rupee is at 54.95."
The market is also unlikely to take big positions ahead of US non-farm payrolls later in the day.
Technical charts show next key resistance at 55.15, the March 4 high and the important 76.4% retracement on the decline from 55.89 (November 26) to 52.87 (February 6).
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Apr 05 2013 | 1:21 PM IST