The rupee gained 22 paise against the US dollar to trade at 63.86 in the pre-close session on selling of the US currency by exporters and banks.
The dollar was weak against major currencies in global markets which supported the local currency, a currency dealer said. Domestic stock markets finishing higher too bolstered the rupee sentiment. Dollar fell against the British pound, Japanese yen and Euro as traders were cashing in recent gains fuelled by Donald Trump’s tax cuts.
- Brazil Unemployment Rate in line with forecasts (12%) in November.
- Germany Harmonised Index of Consumer Prices (MoM) came in at 0.8%, above forecasts (0.6%) in December.
- India FX Reserves, USD climbed from previous $401.39B to $404.92B.
USDINR pair has witness steep fall and closed the session with loss. This pair has immediate support level of 63.9000 if it sustain below this mark then more selling pressure may continue. On higher side 64.3000 is resistance level.
EURINR pair came down due to profit booking but immediately bounced back and closed near to its days high. It has important resistance level of 77.0000 if it manages to hold above this mark then it can go towards next resistance of 77.3000. Whereas 76.3000 is support level.
GBPINR pair has given recovery from its lower level and closed the day near to its important resistance level. Now, if it manages to hold its resistance level of 86.6000 then upside movement can be witness towards next resistance of 87.0000. On southern side 86.0000 act as support.
JPYINR pair came down due to profit booking and closed the session near to its days low. For upcoming session if it manages above 57.2000 then upside breakout may be seen. On downward side it has important support of 56.8000 below this selling can be seen.
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