The Indian Rupee appreciated by 9 Paisa and hovered in the range of 67.3900 and 67.1950 against the US Dollar ahead of the important RBI policy meeting outcome that will be released tomorrow. Recently, GDP number for India in Q4 grew at a pace of 7.7% compared to 7.2% in the previous quarter, which bolstered the currency on lower levels.Though, the dollar remained steady hovering near the 94 value against basket of currencies as demand for the dollar continued to be underpinned after strong U.S. employment data on Friday.
• European Monetary Union Retail Sales (MoM) below expectations (0.5%) in April: Actual (0.1%)
• United Kingdom Markit Services PMI above forecasts (53) in May: Actual (54)
• South Africa Gross Domestic Product (QoQ) below forecasts (-0.5%) in 1Q: Actual (-2.2%)
USDINR showed sideways to positive movements closed with flat note.
Currency pair continue positive rally if sustain above 67.4000 resistance level and may find next resistance around 67.7000. On lower levels 67.0000 is act as support mark.
EURINR showed correction after negative opening unable to sustain on higher levels closed with loss.
Form strong resistance level if able to break in upcoming session than continue bullish movements and find resistance near 79.5000.
GBPINR showed strong pull back from lower levels closed with partial loss.
Sustaining above psuchological levels of 90.0000 may shows more bullish movements in currency pair towards next resistance around 90.5000.
JPYINR showed sideways to bearish movements closed with negative note.
Form strong consolidation around its support on intraday charts if break this support than continue bearish rally towards 61.0000 level.
(Click to submit your details) Just one step to get best trading tips and Recommendation