The Indian Rupee opened flat at 68.9550 and hovered in the range of 69.0325 and 68.7225 against the US dollar on account of fresh selling pressure of American currency by banks and exporters amid a firm domestic bourses. On contrary, against basket of curencies dollar slide as market participants awaited a meeting between Donald Trump and the European Union amid heightened trade tensions in the global economy. Moreover, Investors and traders are also looking ahead to a European Central Bank policy meeting on Thursday.
• United Kingdom BBA Mortgage Approvals above forecasts 39.1K in June: Actual 40.541K
• European Monetary Union M3 Money Supply (3m) climbed from previous 3.9% to 4.1% in June.
• Germany IFO – Current Assessment above forecasts 104.8 in July: Actual 105.3.
USDINR showed negative movements throughout the session closed with loss.
68.7000 is act as strong support zone for the currency pair, if continue to trades above it then bullish movements can be seen towards resistance of 69.1000.
EURINR showed sideways movements after negative opening and closed with loss.
If able to sustain above 80.5000 in upcoming session then it may continue positive rally towards 81.0000 level. On downward side 80.3000 is support for it.
GBPINR showed correction after positive opening and closed with partial gain.
Now, 90.7000 is immediate resistance for the currency if give breakout above this level then next resistance is seen near 91.0000 level.
JPYINR showed strength in last trading hour and closed around its resistance.
Opening above 62.0000 level may take it towards its resistance level of 62.3000 above which it is more bullish. On lower levels 61.8000 is act as strong support.
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