The rupee closed little changed against the dollar as traders avoided taking huge positions ahead of the long weekend. Traders also cautious ahead of Federal Reserve chairman Jerome Powell appearance before senate banking committee in Washington following his hawkish comments on Tuesday that speculated he may increase interest rates faster than expected. Yields on 10-year government bonds ended at 7.741%, Bond yields and prices move in opposite directions.
- United States Michigan Consumer Sentiment Index above forecasts (99.5) in February: Actual (99.7).
- Canada Gross Domestic Product Annualized (QoQ) registered at 1.7%, below expectations (2%) in 4Q.
- India Bank Loan Growth declined to 10.7% from previous 11%.
- India FX Reserves, USD dipped from previous $421.72B to $420.59B.
USDINR pair opened with positive bias, hovered under tight range and closed with flat note. It has major resistance of 65.5000 above this mark more upside movement can be seen, whereas 65.0000 is psychological support level.
EURINR pair showed range bound movement throughout the day, settled the day with negative sentiments. For upcoming session if it breaches its support of 79.5000 than more correction can be seen towards next support level, whereas 80.0000 is resistance for it.
GBPINR pair opened with gap down and selling was witnessed throughout the day, closed with negative note. This pair has immediate support level of 89.7000 below this mark it can move towards next support level of 89.5000, on higher side 90.1000 is resistance level.
JPYINR pair opened with gap up and holds its higher level, closed near to its day high. Now, it has immediate resistance level of 61.3000 above this upside breakout can be seen, whereas 61.0000 is psychological support level.
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