The Indian rupee (INR) fell sharply by as much as 35 paise to 65.03 against the US dollar (USD) today, as crude oil prices surged to their highest since mid-2015, raising concerns about the inflation outlook.
Euro slipped back in Europe Tuesday after news of better than expected Euro-Zone retail sales in September but a larger than predicted fall in German industrial production. The numbers contributed to a drop in EUR/USD but the future direction of the pair is likely to depend more on events and data in the US than those in the Euro-Zone.
• European Monetary Union Retail Sales (MoM) registered at 0.7% above expectations (0.6%) in September.
• Singapore Foreign Reserves (MoM) climbed from previous 275.4B to 276B in October.
• Italy Retail Sales n.s.a (YoY) registered at 3.4% above expectations (0.6%) in September.
USDINR pair has given breakout of downward sloping trend line and continue its upside movement, closed the day with good gain.Now, it has major resistance level of 65.3000 above this it can take more upward movement. 65.0000 act as support level.
EURINR pair started the day with some positive movement but unable to hold its higher level and came down, settled the day with flat note.For upcoming session if it breaks 75.7000 resistances level then bounce back can be expected. 75.3000 is support zone.
GBPINR pair opened with bullish note and continues its northward journey, closed near to its days high.
86.0000 is psychological resistance level if it manages above this then good upside movement can be seen. 85.3000 is crucial support level.
JPYINR pair showed good recovery after breaking its important resistance level and settled the day with positive note.57.3000 act as resistance level above this upside movement can be seen. 56.9000 is immediate support zone.
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