Market Outlook

The Indian rupee on Monday was trading little changed against the US dollar.
The Australian dollar has continued its recent slump, hitting a five-month low against its US counterpart over the weekend. After briefly hitting US81c in September, the local dollar has been retreating steadily, and slipped as a low as 75.36 US cents in the offshore session. At 10am, it has recovered some ground to be fetching around 75.61 US cents.

Fundamental News

•    Greece Current Account (YoY) dipped from previous €1.827B to €1.213B in September.
•    Germany Producer Price Index (MoM) meets expectations (0.3%) in October.
•    Japan Merchandise Trade Balance Total came in at ¥285.4B, below expectations (¥330B) in October.

USDINR

USDINR pair followed its northward journey and closed with positive note.Now, 65.3000 is important resistance above this it can move towards next resistance level. 64.9000 is act as crucial support level.

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EURINR

EURINR opened with negative bias but unable to sustain its lower level and bounce back, settled near to its days high. For upcoming session 77.0000 is major resistance level above this it can take further up side movement. 76.3000 is support level.

2

GBPINR

GBPINR pair continues its upward trend and closed near to its resistance level. For coming session if its price manages above 86.5000 then it can continue its upward trend. 85.8000 is major support zone.

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JPYINR

JPYINR pair started the day with gap up and hover near to its higher level, settled the day with good gain. It has major resistance level of 58.3000 above this good up side break out can be seen. 57.7000 is act as an important support level.

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