The rupee on Friday opened 4 paise up at 63.87 against the dollar, making the most of further weakness of the greenback globally. The dollar slipped to its lowest levels in more than three years against a basket of currencies on Friday, headed for its biggest weekly loss in two years as negative sentiment offset any support the greenback could take from rising Treasury yields. It has been weighed down by a variety of factors this year, including concerns that Washington might pursue a weak dollar strategy and the perceived erosion of its yield advantage.
- European Monetary Union Construction Output w.d.a (YoY) registered at 0.5%, below expectations (2.7%) in December.
- United Kingdom Rightmove House Price Index (MoM) rose from previous 0.7% to 0.8% in February.
- Japan Adjusted Merchandise Trade Balance climbed from previous ¥86.6B to ¥373.3B in January.
USDINR pair has given healthy recovery from its lower level and closed the session with good gain. It has immediate resistance of 64.4000 above this mark it may continue its northward journey and test its next resistance level of 64.6000. Whereas 64.0000 is support level.
EURINR pair has continued its upward journey and settled the day with positive note. This pair has major resistance level of 80.5000, if it manages this level then it can continue its upside movement, on downward side it has support of 79.8000.
GBPINR pair opened with gap up and followed its uptrend, closed with positive bias. Now, it has immediate resistance level of 90.7000 if it manages to hold above this mark then more upside movement can be seen, 90.0000 is act as support level.
JPYINR pair witnessed its bull run throughout the day and closed near to its resistance level. For upcoming session if it manages to hold above 60.8000 then upside breakout can be seen towards next resistance level of 61.0000. On downside 60.0000 is support level.
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