After touching Rs.58.35 mark against USD, the Indian Rupee has been weakning as discussed in our post USDINR Technically dated May 2, 2014 and seems to be heading to the previous lows of 66-68.The following chart from the said post indicated a reversal and move towards 68 levels.
The following daily chart indicating momentum seems to be building and once 63.80 is crossed conclusively, INR may rapidly move to 66-67 levels.
