USD/INR Resilient to Downside, Supported at 60.11

        0314 GMT [Dow Jones] USD/INR appears to be resilient to the downside for now, after bouncing at the round-figure trading barrier of 60.00 and closing above the 60.11 entrance to the Bollinger downtrend channel on Monday. But for USD/INR to clearly avoid a possible bearish technical cue it has to close above the 20-day Bollinger mid resistance line at 60.41. A Tuesday close below 60.11 could see the dollar quickly fall to the downtrend channel's base at 59.81. The U.S. dollar continues to trade with a slightly heavy tone Tuesday as the benchmark U.S. government bond yields remain low. Spot USD/INR closed Monday at 60.23 and is expected to open around 60.11 based on the current non-deliverable forwards market which trades around the clock. (ewen.chew@wsj.com)
        (END) Dow Jones Newswires

        May 05, 2014 23:14 ET (03:14 GMT)