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Market Outlook

The Rupee opened 17 paise down at 64.69 against dollar on Friday on account of buying of American currency by banks and importers amid subdued domestic equity markets.
The dollar skidded against the safe-haven Japanese yen on Friday after the United States launched cruise missiles at an airbase in Syria, raising concerns of a sharp escalation in the Syrian civil war. US President Donald Trump said on Thursday he ordered missile strikes against a Syrian airfield from which a deadly chemical weapons attack was launched.

Fundamental News

•    United Kingdom Industrial Production (YoY) came in at 2.8%, below expectations (3.7%) in February.
•    Italy Retail Sales s.a. (MoM) down to -0.3% in February from previous 1.4%.
•    Denmark Industrial Production (MoM) rose from previous -5.3% to 0.8% in February.

USDINR

USDINR continued the bears for the third consecutive session on Rupee appreciation.
Now, 64.0000 is seen as psychological mark for the currency pair below which further sell offs may continue. On higher side, 64.9000-65.0000 is seen as resistance range.

1

EURINR

EURINR strongly showed downfall and surpassed all important support marks.
In the coming session, if the pair holds below 68.5000 then it may dip towards the next support zone of 68.2000-68.0000. On higher side, 69.1000 is seen as resistance.

2

GBPINR

GBPINR witnessed strong selling pressure after breaking the important support zone on daily chart.
If it breached the mark of 80.0000 then 79.7500 is seen as immediate support whereas 80.7000 may continue to act as stiff resistance.

3

JPYINR

JPYINR dragged successively for three sessions and closed on weak note.
On further sell offs, the currency pair may find 58.0000 as crucial support below which 57.6000 is seen as next support whereas 58.7500 as immediate resistance.

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