The Indian rupee slipped in the early trade on Friday. “The USD-INR market has been little more volatile than before reflecting global sentiments, expecting a higher opening today and a range of 64.20-64.40 for the day.” The dollar hit two-week highs against a basket of currencies in choppy trading as investors reduced bearish bets on the greenback. A selloff across global stock markets and bets that the Federal Reserve could hike rates at least three times in 2018 has driven the dollar index.
- Portugal Global Trade Balance: €-3.748B (December) vs previous €-3.547B.
- Brazil Retail Sales (MoM) came in at -1.5%, below expectations (-0.4%) in December.
- Greece Industrial Production (YoY) declined to 0.2% in December from previous 0.8%
USDINR pair has given recovery from its lower level and closed with gain. This pair has major resistance of 64.6000 if it manages to hold above this mark then it can go towards next resistance level of 64.8000, whereas 64.2000 is support level.
EURINR pair has given bounce back after the steep fall in previous day and closed the day with gain. It has major resistance of 79.5000 above this mark it may move towards its next resistance level of 79.8000, on downward side 78.8000 is crucial support level.
GBPINR pair opened with gap up but unable to hold its higher level and came down, closed near to its day low. For upcoming session if it manages to sustain below its support level of 89.3000 then it can continue its down side movement, on higher side 90.2000 is resistance level.
JPYINR pair opened with gap up and drags down in first half but bounce back from its lower level, closed with gain. Now, it has immediate resistance of 59.3000 above this good breakout toward next resistance can be seen, on downward side it has crucial support of 58.6000.
(Click to submit your details) Just one step to get best trading tips and Recommendation.