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Rupee continues weakness - Insignia Consultants

FXStreet (Barcelona) - Research Analysts at Insignia Consultants note global events dictating INR's movements rather than domestic ones.

Key Quotes

"US FOMC minutes can impact rupee and emerging market currencies tomorrow. I am not going to comment more, except that short covering will be there in euro, US dollar in case rupee weakens against them today and tomorrow."

"Usd/inr November 2014 (expiry on 26th November): Head and shoulder formation on the charts. Usd/inr can rise to 62.02 and 62.32 as long as it trades over 61.77. There will be sellers only below 61.77 today."

"Euro/inr November 2014 (expiry on 26th November): A break of 77.81 will result in 78.08 and 78.47. Initial support is at 77.37 and there will be sellers only below 77.37."

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