As per the technical analysts, rupee range for the day is seen between 55.60-56.20/USD.
The Indian rupee fell for a second session on Tuesday, hitting a 2-1/2 week low at one point, on the back of strong dollar demand from oil firms, while continued worries about euro zone debt also curbed some of the demand for risk assets.
Markets fear the rupee could make a renewed push to the record low at 56.52 hit against the dollar on May 31, and believe any breach below 56.20 may trigger intervention from the central bank.
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