The Rupee opened at 65.1100 touched a high of 64.9150 up by 12 paisa and closed as flate note per Dollar versus 65.1300 on Monday. The Dollar strengthened against basket currencies overseas due to trade negotiations between the US and China, which decreased the fears of a trade war and improved investors’ appetite for riskier assets. Equity Market opened poisitive that boosted the domestic currency. The US currency dollar unwinding by the exporters and banks.
- Business Confidence of Portugal climbed from previous 1.9 to 2.1 in March.
- European Monetary Union Private loans of Europe (YoY) came in at 2.9% below forecasts (3%) in February.
- Trade Balance (MoM) of Sweden declined to -3.4B in February from previous -1.8B
USDINR showed correction form lower levels and closed with partial loss. Unable to sustain below its strong support of 65.0000 and closed above it now, next resistance is seen near 65.3000. On downward side 64.8000 is major support.
EURINR after correction sustain on lower levels and closed near to its day low. 81.0000 is immediate resistance mark for the currency pair if open above it in upcoming trading session then continue bullish movements, whereas 80.5000 is support for it.
GBPINR open with negative bias and continue bearish movement closed with loss. More correction is expected in it as closed below its support level and may find next support around 91.5000. On higher levels 92.5000 is act as resistance.
JPYINR after negative opening showed sideways movements closed with negative bias. Form bearish pattern on daily charts if sustain below 61.5000 then more correction is seen in it. Upward side 62.0000 is vital resistance zone.
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