The Indian rupee on Wednesday traded weak for the third straight session against the US dollar tracking losses in global market as concern about escalating US-China trade tensions weighed on risk appetite and finally settled the session on weak note. Rupee consolidated in a narrow range but came under pressure in the latter half of the session following marginal strength in the dollar against its major crosses. Renewed tension between US and China is keeping the volatility high for the dollar.
- Most Asian currencies weaken as worries on U.S.-China trade talks rise.
- Dollar Dips, Havens Rise on Fears over Trade, Iran.
- Yen firms at 6-week high before China-U.S. trade talks.
- Korean won leads declines, Indonesian rupiah also weakens.
- German Production in March 2019: seasonally adjusted increase of 0.5% on the previous month.
USDINR found support on lower levels and closed around its short term resistance.
Currency pair continue its bullish movements if break its immediate resistance and found next resistance around 70.4000.
EURINR opened with partial gain showed sideways movements closed around its resistance.
78.7000 is seen as immediate resistance for the currency pair sustaining above this mark it may continue positive movements.
GBPINR unable to sustain on higher levels showed correction closed with partial loss.
Sustaining above its support level of 91.0000 currency pair shows bullish movements and finds resistance around 91.5000 mark.
JPYINR showed sideways to positive movements closed with gain.
If able to sustain above 64.0000 mark in upcoming session currency pair may continue bullish movements toward its resistance of 64.5000.
(Click to submit your details) Just one step to get best trading tips and Recommendation.