The Rupee climbed 5 paise to 66.47 against the US dollar in early trade on Friday, tracking firm cues from other Asian currency markets. This was the third day of consecutive gains for the domestic currency. Yet, June marked the third straight month of declines for the domestic currency, thanks to the biggest daily loss in 10 months on June 24 after Britons voted to quit the European Union.
June saw a modest improvement in the performance of the UK manufacturing sector. The seasonally adjusted Markit Purchasing Managers’ Index (PMI) posted 52.1, up from a revised 50.4 in May.
- Rupee rises for third day against dollar.
- Risk appetite supports Asia FX but yuan wobbly.
- RBI suspends euro transactions via Asian Clearing Union.
- Germany Manufacturing PMI hits 28-month high in June.
- French Production falls for third successive month in June.
- Euro area unemployment at 10.1%.
- Swiss retail trade turnover falls by 2.3%.
USDINR breached the important support of 67.8000 on daily charts and closed below it.
It rests near the trend line acting as strong support crossing which can drag t towards 67.2000 while 67.8000 will now act as key resistance.
EURINR opened gap down and stayed below and stayed on lower side for the whole session.
If it sustains below the 100 day EMA on daily charts of 75.2500 then it may drag towards 74.7500, otherwise strength can be seen above 75.5000.
GBPINR broke its consolidation range which it was following since last three sessions.
On daily charts, 89.7400 is seen as strong support surpassing which can result in intense selling pressure while 90.8000 may act as immediate resistance.
JPYINR closed flat but with a positive bias in last three sessions.
It may be a bunce back point for the counter as bulls can again become acticate if it sustains above 66.1000 whereas 65.5000 is seen as good support.
(Click to submit your details) Just one step to get best trading tips and Recommendation.