Market Outlook

The rupee is now the seventh best-performing emerging market currency compared to 18th a month ago. The local currency appreciated 0.8% this week itself, reversing a weakening trend that was earlier dampened by a stronger dollar supported by the US economy.
The euro edged higher on Friday, on track for its biggest weekly rise in a month as investors switched focus from the euro zone’s political concerns to its brightening economic outlook.

Fundamental News

•    China New Loans came in at 1270B, above forecasts (1100B) in September.
•    Australia CFTC AUD NC net positions dipped from previous $71.8K to $69.2K.
•    United States CFTC USD NC net positions rose from previous $101.5K to $140.5K.

USDINR

USDINR pair opened with gap down and continued its southward journey, closed the day with negative sentiment.
For upcoming week if its price sustain below immediate support level of 64.9000 then more correction can be seen. 65.2000 act as a major resistance level.

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EURINR

EURINR pair has given steep fall from its higher level and settled the day with weak note.It has major support level of 76.8000 below this mark selling can be seen. 77.1500 is immediate resistance level above which some correction is expected.

2

GBPINR

GBPINR pair started the day with gap up opening but unable to manage its resistance level, settled the day with good gain.If it is sustain above its major resistance level of 86.6500 then it may move further towards next resistance level. On southern side it has 86.0000 as support mark.

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JPYINR

JPYINR opened the day with negative bias and hover near to its support zone, conclude the day near to its day low.
Now it has immediate support level of 57.9000 below this it can go towards its deeper support. 58.2000 is important resistance mark.

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