The Rupee remained under pressure against the US dollar for the third-straight day today, depreciating 7 paise to end at a fresh 3-week low of 64.59 on steady demand of the US currency amid a global oil rout.
The dollar stood tall on Tuesday, pushing to a one-month high against the yen as investors waited to see if Federal Reserve Chair Janet Yellen would stick to her positive economic outlook at an event later in the global session. Forex market traded with a broadly hesitant tone on growing uncertainty about global economic growth.
• United Kingdom CBI Distributive Trades Survey – Realized (MoM) above expectations (2%) in June: Actual (12%).
• Italy Business Confidence came in at 107.3, above forecasts (106.7) in June.
• Sweden Trade Balance (MoM) increased to 2.8B in May from previous -2.6B.
USDINR opened gap down but thereafter gained momentum in the later half to close on a flat note.
The currency pair is constantly finding support around lower levels since last few sessions and so 64.4000 is seen as major support now while 64.7000 as immediate resistance.
EURINR showed strong bulls in the later half of the session and closed on a strong note.
The pair pulled back strongly from the support levels and if it sustains above the immediate resistance of 72.7500 then it may reach towards 73.1000 while 72.4000 is seen as support.
GBPINR extended the bulls since last four sessions and closed around the resistance levels.
Now, if the counter closes above the resistance of 82.4000 then it may continue the bulls whereas 82.0000 is marked as strong support.
JPYINR opened gap down and closed on lower note as seen on daily chart.
The session took strong support around the crucial support of 57.6000 and so if the pair holds below it then it may further drag whereas 58.0000 may act as resistance.
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