The Indian rupee opened marginally down at 64.81 per dollar on Today against previous close 64.79. Bhaskar Panda of HDFC Bank said, “Dollar index has sustend above 89.50 levels ahead of the new Fed chief’s first congressional testimony. Stocks and currencies across Asia Ex-Japan also did well. “The 10-year benchmark bond yield has retraced a bit after touching a recent top of 7.75 percent. I expect a range between 7.65-7.70 percent for today.
- Brazil Inflation Index/IGP-M came in at 0.07%, above forecasts (-0.01%) in February.
- Belgium Consumer Price Index (MoM) dipped from previous 0.29% to 0.15% in February.
- European Monetary Union Economic Sentiment Indicator above forecasts (114) in February: Actual (114.1).”
USDINR pair is opened with positive note but unable to sustain on higher level and came down, closed with flat note. It has important support level of 64.7000 below this mark more correction can be seen, whereas 65.2000 is major resistance level.
EURINR pair has showed recovery in earlier session but in second half it was drag down, settled with loss. For upcoming session if it sustain below its psychological support level of 80.0000 then more downside movement can be seen, 80.5000 is resistance mark.
GBPINR pair has unable to hold its higher level and came down, closed with loss. This pair has crucial support of 90.7000 below this mark more correction can be seen towards next support level, whereas 91.3000 is resistance level.
JPYINR pair unable to manage its higher level, drag down and settled with loss. Now, 60.6000 is acting as crucial support level below this mark it can move towards next support level. On higher side 61.0000 is resistance level.
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