The rupee and bond prices erased all the morning gains and closed lower on Monday ahead of the key GDP data. The home currency closed at 64.80 from its previous close of 64.73. The local currency opened at 64.70 a dollar and touched a high and a low of 64.63 and 64.83 respectively. Dollar index, which measures the US currency strength against all major currencies, was trading at 89.714, below 0.19% from its previous close of 89.883.bank.
- Austria Purchasing Manager Index declined to 59.2 in February from previous 61.3.
- United Kingdom BBA Mortgage Approvals above expectations (35.928K) in January: Actual (40.117K).
- Switzerland Employment Level (QoQ) below expectations (4.963M) in 4Q: Actual (4.962M).
USDINR pair opened with gap down but showed recovery from its lower level and closed with positive bias. It has important resistance level of 65.1000 above this mark it may continue its upside movement, whereas 64.8000 is crucial support zone.
EURINR pair has given good bounce back from it support level and settled the day near to its resistance level. Now, 80.4000 is acting as major resistance level above this it may continue its northward journey. On downward side 80.0000 is psychological support level.
GBPINR pair has given resistance breakout and continue its upward trend, closed with good gain. This pair has immediate resistance level of 91.5000 if it manages to hold above this mark then more upside movement can be seen. 91.0000 is support level.
JPYINR pair trading under tight range and closed with positive note. For upcoming session if it manages to hold above 61.1000 then it can shows more upside movement. On downward side it has support level of 60.7000.
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