Market Outlook

The Rupee firmed up by 11 paise to 66.50 against the dollar in early trade today, maintaining its upward trend for the fourth straight day on sustained selling of the US currency by exporters and banks amid a higher opening in the domestic equity market. Weakness in the dollar against other currencies overseas supported the rupee.

The Mexican peso rose 2 percent on Tuesday, recovering from record lows against the U.S. dollar, buoyed by a view that Democratic presidential candidate Hillary Clinton did better than rival Donald Trump in a television debate.

Fundamental News

  • Asia FX up as Clinton judged winner in debate; rupiah at 17-mth high.
  • UK Retail sales fall, but growth expected to return next month.
  • German Import prices in August 2016: –2.6% on August 2015.
  • Monetary developments in the euro area increased to 5.1% in August 2016, from 4.9% in July.


USDINR continued the bear rally and surpassed the key support levels on daily chart.

The pair may drop down further if it holds below the level of 66.5000 where next crucial support is 66.1500. On higher side, 66.6000-66.8000 is seen as resistance range.



EURINR has been moving in a specific range of key supports and resistance on daily chart.

On higher side, 100 day EMA of 75.1000 is not allowing to give positive breakouts while 74.6500 is acting as strong support on lower side.



GBPINR remained on lower side for the whole session and finally settled on a flat note.

Sell offs are expected to continue till it sustains below 86.3800 and 86.0000 may act as psychological support. On higher side, 87.0000 will be seen as immediate resistance.



JPYINR opened gap down but rose above the intraday opening in the later half of the session.

It managed to close above 66.0000 mark which indicates that the pair is finding support at lower side. Major resistance is seen around 66.7000 while 65.8000 is support.


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