Against the US dollar, the Indian rupee strengthen by 7 paise to open at 70.5225 but soon it capped the gains and traded in weak note amid strengthening of the American currency and weak opening in domestic equities. On the other hand easing crude prices supported the domestic unit. On macro front, the annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at 3.80% (provisional) for the month of December 2018 (over December, 2017) as compared to 4.64% (provisional) for the previous month.
- Yuvan slipped after data showed the country’s exports shrank the most in 2 years in December.
- In November 2018 compared with October 2018, seasonally adjusted industrial production fell by 1.7% in the euro area (EA19)
- Australian dollar and kiwi dollar, gauges for global risk appetites, as investor sentiment was hurt by trade data of China.
USDINR showed positive movements closed around its day high.
Sustaining above 71.0000 mark in upcoming session may give more strength to particular currency pair and find next resistance around 71.5000.
EURINR showed correction after negative opening closed with flat note.
Now, 81.2000 is act as strong support zone for the currency pair if able to sustain above this mark it may find resistance near 81.7000.
GBPINR showed positive movements throughout the session closed around its resistance.
Currency pair continue its bullish rally if breaks immediate resistance of 91.3000 and find next resistance around 91.7000.
JPYINR after positive opening continue bullish movements closed with gain.
Now, 66.0000 is seen as immediate resistance for the currency pair sustaining above this mark it may find next resistance around 66.3000.
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