Market Outlook
The rupee recovered from its 16-month low to opened up at 68.1675 hovered in the range of 68.1675 and 67.9725 against the US dollar. The rupee sentiment was also buoyed on easing trade woes between the US and China against the US dollar in early trade on fresh selling of the dollar by exporters and banks.The dollar pulled back from a five-month high against major rivals, as traders opted to take profits after the recent rally, while Forex traders focused on testimony to the UK Treasury Select Committee.

Fundamental News
• United Kingdom Public Sector Net Borrowing came in at £6.23B below forecasts (£7.1B) in April.
• Sweden Unemployment Rate came in at 6.8%, above forecasts (6.6%) in April.
• United States 6-Month Bill Auction climbed from previous 2.035% to 2.08%.


USDINRUSDINR showed sideways movements after negative opening closed with partial loss.
Now, 68.2000 is act as resistance level for it sustaining above this level may shows more bullish movements in it. On lower levels 67.9000 is support mark.

EURINREURINR showed positive movements in second half closed with positive bias.
80.6000 is act as strong resistance zone for the currency pair if able to break in upcoming session more positive rally can be seen in it towards 80.9000.

GBPINRGBPINR found support on lower levels showed correction closed with partial gain.
Currency pair moves in tight range of 91.2000-92.0000, breakout in any side may decide further trend, find resistance and support around 92.3000 and 91.0000 respectively.

JPYINR showed sideways movements and closed around its reistance level.
Breakout of resistance level may show some positive strength in currency and find next resistance near 61.7000. On downward side 61.2000 is immediate support.

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