The Rupee continued its performance near 65-mark on Friday, against US benchmark dollar index. American unit reportedly faced some selling pressure by exporters and banks. A positive opening for the stock markets also boosted the domestic currency. USD had strengthened against the euro after ECB President Mario Draghi signalled that any policy normalisation in the euro zone would be very gradual and President Trump formally announced tariffs on steel and aluminium imports.
- Ireland Retail Sales (YoY) dipped from previous 7.2% to 1.3% in January.
- Greece Consumer Price Index (YoY) rose from previous -0.2% to 0.1% in February.
- United Kingdom Total Trade Balance came in at £-3.074B, above forecasts (£-3.15B) in January.
USDINR pair showed positive movements from lower levels and closed with partial gain. For upcoming session expected to continue bullish rally towards its resistance level of 65.5000. Immediate support for it is seen around 65.1500.
EURINR pair opened with negative bias showed sideways movement throughout the session. On daily charts currency pair closed around trendline acting as strong support expected to give some correction below it towards 80.0000, where as 80.7000 is resistance level.
GBPINR pair after negative opening showed correction closed around its resistance mark. Now, 90.6000 is act as resistance level above this it can give upside breakout, on downward side it has crucial support of 90.0000.
JPYINR pair unable to sustain on higher levels closed with weak note. Immediate support for particular currency pair is seen around 61.0000 below this more correction is expected in it. On higher side 61.4000 is resistance for it.