The Rupee was trading 12 paise down at 64.56 against dollar in early trade on Monday on account of selling of American currency by banks and exporters.
The dollar edged higher against a basket of currencies on Monday, moving away from last week’s 6.5 month lows and shrugging off news of North Korea’s latest missile test as investor attention turned to the Federal Reserve’s expected interest rate hike next month.
• European Monetary Union M3 Money Supply (YoY) below expectations (5.2%) in April: Actual (4.9%).
• Sweden Trade Balance (MoM) down to -2.6B in April from previous -0.8B.
• Switzerland Employment Level (QoQ) fell from previous 4.912M to 4.884M in 1Q.
USDINR opened higher but was not able to sustain at higher levels and closed the session on a flat note.
Now, on daily chart, it is near to the important support level of 64.6500 surpassing which can drag the currency pair lower whereas 65.0000 may continue to act as resistance.
EURINR dragged for the fourth consecutive session after reversals from top and closed in red.
It found support around 72.3000 and now any closing below it can further weaken the currency pair while 72.8000-73.0000 is seen as resistance range.
GBPINR remained on lower levels as of the range in previous session and closed on a flat note.
The pair is now near to the key support levels of 83.0000 and below this psychological level it may further dip on lower levels whereas 83.8000 may act as stiff resistance.
JPYINR sustained below the previous session’s close and settled in red territory.
The closing above 58.0000 mark can be a positive signal for bulls and 58.5000 may act as next resistance for the counter. On lower side, 57.6000 can act as good support.
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