Market Outlook

The rupee tent 64 paise from 64.85 against the US dollar (USD) at the interbank forex market today. Due to higher demand for the US dollar from importers and banks and broad strength of the greenback for the rupee’s decline today. On Friday, the rupee had closed  30 paise lower at 64.21 against the US dollar on rising global crude prices and worsening trade net loss. The currency markets were closed yesterday. Dollar index, which measures the US currency’s strength against major all currencies, was trading at 89.367, up 0.3% from its previous close of 89.10.

Fundamental News

  • United Kingdom CBI Industrial Trends Survey – Orders (MoM) meets forecasts (10) in February.
  • European Monetary Union ZEW Survey – Economic Sentiment came in at 29.3, above expectations (28.4) in February.
  • Germany ZEW Survey – Economic Sentiment above expectations (16) in February: Actual (17.8).

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USDINR pair opened with gap up and witnesse good upside movement closed the day with gain. Now, it has important resistance level of 65.0000  above this it can move towards next resistance level of 65.2000 where as 64.6000 is support level.



EURINR pair unable to hold its higher level and settled the session with weak note It has major support level of 79.6000 if it sustain below this mark then profit booking may be witness. On higher side 80.3000 is resistance mark.



GBPINR pair opened with gap down and bounced back from its lower level, closed with gain. For upcoming session if it manages to hold above 91.0000 then upside breakout can be seen towards next resistance level of 91.3000. On downside 90.3000 is support level.



JPYINR pair has moved under tight rage and closed near to its resistance level. This pair has immediate resistance  level of 60.6000 if it manage to hold above this mark  then more upside movement  can seen, 60.0000 is support level.


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