SPOT INR is again very close to resistance near 76.50 which has been tested 4 times in past 2 weeks but price has been unable to breach the same. Yesterday too it made a high of 76.45 but closed the day near 75.95. However today's closing is very important as it is both daily & weekly closing. If the pair convincingly closes above 76.50 then it could rally towards 77.4-77.90 levels as well in coming days. Despite a strong rally in equity markets and relatively weaker dolar index, rupee is still depreciating. So keep an eye on today's close for bigger view. For the day, 76.80-76.85 zone is critical resistance.
