forex trading

Market Outlook

The Rupee was traded between 65.0100-65.4550 in range of 45 paisa and closed at 65.3400 against the dollar of previous close 65.1250. The dollar rebounded in last trading session, surging from a 5-week low on back of easing tensions of trade war between US and China.  On Wednesday’s after the Government surprised with lower than expected market borrowings for H1FY19, Government Bond market witnessed an unprecedented relief rally.

Fundamental News

  • Consumer Price Index of Italy (EU Norm) (YoY) above forecasts (0.8%) in March: Actual (1.1%).
  • Producer Price Index of Greece (YoY) down to -0.4% in February from previous 1.9%.
  • Consumer Price Index France (EU norm) (YoY) above forecasts (1.5%) in March: Actual (1.7%).
  • Trade Balance of Turkey recorded at -5.76B (February) vs -9.07B.

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USDINR

USDINR showed positive movements and closed with good gain. Closed around its resistance level form consolidation around it, if break this resistance then more positive movements were seen in it. 65.0000 is strong support for it.

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EURINR

EURINR showed sideways movement but in last session broke its strong resistance and closed arount it. Now, 81.2000 is imeediate resistance for it if continue bullish movements then it may find next resistance near 81.5000. On downward side 80.8000 is support mark.

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GBPINR

GBPINR open with positive bias after correction unable to sustain on lower levels closed around its resistance. Currency pair looking bullish for upcoming trading sessions and resistance level for it is seen around 92.8000. If correction occurs then 92.0000 is act as support.

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JPYINR

JPYINR after partial opening showed sideways movements closed with flat note. Found support on lower levels if continue bullish movements then 62.3000 is act as resistance zone, whereas 61.5000 is immediate support level.

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