The rupee breached a major resistance level to fall below the 53 mark for the first time this year in intra-day trade on Wednesday. Forex dealers fear the rupee is now headed toward 55 levels against the dollar. Although the rupee firmed up to 52.55 earlier in the day, it soon slipped to 53.03 following a sell-off in the equity market and with the dollar gaining overseas. The domestic currency finally saw a pullback to close below the 53 level at 52.96, down by 22 paise from Monday's close.