The Indian rupee on Monday erased all the gains and closed marginally weaker against US dollar, tracking mixed Asian currencies market.The home currency closed at 63.87 a dollar, down 0.04% from its Friday’s close of 63.85. The rupee opened at 63.89 a dollar, and touched a high and a low off 63.72 and 63.99, respectively. The dollar index, which measures the US currency’s strength against major currencies, was trading at 90.445, down 0.14% from its previous close of 90.572.
- Greece Current Account (YoY) declined to €-0.954B in November from previous €-0.624B.
- South Korea Producer Price Index Growth (YoY) dipped from previous 3.1% to 2.3% in December.
- European Monetary Union CFTC EUR NC net positions registered at €139.5K, below expectations (€169.6K).
USDINR pair drags down from its higher level but in later session it was bouncback and closed with flat note. It has crucial support of 63.7000 below this some correction can be expected towards next support level where as 64.0000 is psychological resistance level.
EURINR pair opened with gap down but recovered from its lower level and settled the session near to its days high. Now, 78.5000 is major resistance level above this breakout can be witness towards next resistance level of 78.9000. On southern side 77.8000 is crucial support level.
GBPINR pair was bounce back after some profit booking from its higher level and closed the day with partial gain. It has immediate resistance of 89.0000 above this mark it may take more upside movement towards next resistance level. On downward side it has crucial support of 88.4000.
JPYINR pair has given short covering after sharp fall in morning session and closed the session with flat note. This pair has 58.0000 as a major resistance level above this mark it may continue its upward journey. On down side 57.5000 is crucial support level.
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