Market Outlook

Maintaining its upbeat momentum, the rupee today surged by 30 paise to hit a fresh 3-month high of 64.04 against the US dollar, with all exit polls on assembly elections suggesting the BJP retaining Gujarat and returning to power in Himachal Pradesh.
The dollar held at more than one-week lows on Thursday after the US central bank kept its economic forecasts unchanged with investors expecting more losses if the European Central Bank outlines a more optimistic outlook on the economy.

Fundamental News

•    United States Industrial Production (MoM) came in at 0.2%, below expectations (0.3%) in November.
•    Canada Manufacturing Shipments (MoM) registered at -0.4%, below expectations (0.8%) in October.
•    India FX Reserves, USD fell from previous $401.94B to $400.9B.
•    Ireland Gross Domestic Product (QoQ): 4.2% (3Q) vs 1.4%.

USDINR

USDINR pair opened with negative bias and showed some recovery in later session, closed the day with loss.Now, if it sustains below 64.0000 then it can move towards deeper support level around 63.8000 whereas 64.5000 is resistance mark.

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EURINR

EURINR pair has witness steep fall and settled the session with negative note. Now, 76.0000 is acting as a psychological resistance level if it manages above this  then correction can be seen. On downward side it has 75.5000 as crucial support level.

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GBPINR

GBPINR pair started with gap down and selling pressure was dominated, closed the session with negative bias.It has 85.9000 as major support zone below this its price may drag down towards next support zone. On higher side 86.5000 act as important resistance.

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JPYINR

JPYINR pair has continued its upward journey and closed the day with good gain.This pair has 57.4000 as important resistance mark above this it can move towards next resistance level. On downward side it has crucial support of 57.0000.

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