The Indian rupee strengthened against the U.S. dollar on Tuesday.
The local currency appreciated by 10 paise to Rs 82.64 at open. It strengthened by 4 paise against the greenback to 82.70 at close of trading hours, according to Bloomberg.
Rupee had weakened over 1% to Rs 82.74 at close on Monday.
"The Indian rupee could flatten this Tuesday morning as investors could remain cautious ahead of the RBI's monetary policy decision on Wednesday," Reliancesmartmoney.com said in a note.
The brokerage said that the support levels for the pair are at 82.50 and 82.36, with resistances at 82.85 and 82.94. The pair could remain within the levels this Tuesday, it said.
"If the pair sustains above 82.70 levels, it could gain further strength towards 83.05–83.30; support is placed at Rs 82.55-82.22," said Rahul Kalantri, vice president of commodities at Mehta Equities Ltd.
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