The Rupee weakened by 28 paise to open at 71.1025 and hovered in the range of 71.1025 and 70.7000 against the US dollar but wiped early losses on on fresh foreign fund inflows. Beside that, Trump’s tariff threat on Chinese goods, fresh demand for the American currency from importers amid marginal rise in crude prices, however, capped the rupee’s gain. Dollar traded higher up to almost two-weeks high against major Asian peers amid fears that the U.S.-China trade war could escalate, while the pound weakened following U.S. President Donald Trump’s warning that the Brexit deal is bad for the UK..
- Italy Business Confidence above expectations 104.1 in November: Actual 104.4.
- Sweden Producer Price Index (MoM) dipped from previous 1.2% to -0.3% in October.
- New Zealand Trade Balance (YoY) down to $-5.79B in October from previous $-5.19B.
USDINR found resistance on higher levels showed sideways to negative movements closed with loss.
Now, 70.7000 is seen as immediate support level for the currency pair sustaining below this mark drag it towards 70.3000.
EURINR showed bearish movements after negative opening closed with negative note.
Psychological level of 80.0000 is act as strong support zone for the currency pair breakout below this level take it towards 79.7000.
GBPINR continued its negative movements and closed around its support level.
Currecny pair may find support around psychological level of 90.0000 below which it may continue bearish rally and find next support near 89.8000.
JPYINR after correction found support on lower levels closed with loss.
More correction can be seen in particular currency pair if able to sustain above 62.0000 mark and find resistance around 62.8000.
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