The Rupee fell 5 paise to 67.15 against the US dollar in early trade on Monday, tracking mixed cues from Asian currency markets. Most emerging Asian currencies eased on Wednesday as the dollar hit more than four-month highs with strong economic data, while a rebound in the Chinese yuan limited their losses.
The Office for National Statistics noted on Wednesday, the UK’s official jobless rate dropped to 4.9% versus 5.0% last, with the hiring process unaffected by the Brexit concerns.
- Dollar index at 4-mth high on strong US data, Fed hike hopes.
- Solid U.S. data drags Asia FX lower, yuan’s rebound limits losses.
- German Producer prices in June 2016: –2.2% on June 2015.
- UK jobs: Jobless rate drops in May, earnings pick-up.
USDINR traded sideways to positive and settled the session in green territory.
Now, the immediate resistance so seen ahead is 67.4000 closing above which can provide the strength to the pair whereas 67.0000 may act as good support.
EURINR opened below the key support and sustained on lower side.
Selling pressure can be seen till it holds below the mark of 74.1500. On higher side, 73.9000-73.7000 is seen as near support range.
GBPINR traded below the important support of 88.4000 for first half of the session but thereby showed strength in the later half and finally closed on a flat note.
Sustaining above 88.7000 can lead it towards 89.3000 while 87.9500 is important support.
JPYINR dragged for the second consecutive session and closed around the support as seen on daily chart.
Now, if the counter breaks 63.0000 then it may further fall towards deeper support of 62.5000 while 63.8000 may act as major resistance from current levels.
(Click to submit your details) Just one step to get best trading tips and Recommendation.