The Indian Rupee appreciated by 21 paise to open at 68.8450 and swing around in the range of 68.8675 and 68.6175 against the US dollar on account of heavy selling of the greenback by banks as well as exporters. Moreover, strong domestic bourses and the dollar weakness against basket of currencies bolstered the strength of Rupee. On the flip side, the dollar traded near its 3 week low after the data of US jobs showed slower than expected wage growth which supports negative sentiments among market participants.
• European Monetary Union Sentix Investor Confidence registered at 12.1 above expectations 8.2 in July.
• Germany Current Account n.s.a. fell from previous €22.7B to €12.6B in May.
• Switzerland Unemployment Rate s.a (MoM) came in at 2.6%, above expectations 2.5% in June USDINR showed correction after negative opening, closed with bearish note.
Sustaining below its immediate support of trendline may result in negative movements in the currency pair and find next support around 68.5000.
EURINR showed positive movements closed above its resistance level.
Now, currency pair continue bullish movements if sustain above 81.0000 mark and shows positive rally towards 81.5000 level.
GBPINR found support on lower levels showed positive movements closed with gain.
Currency pair gives positive movements in upcoming trading session if able to maintain above 92.0000 mark. On lower levels 91.7000 is immediate support.
JPYINR showed sideways to negative movements after some correction closed with partial loss.
62.6000 is act as strong resistance zone for the currency pair sustaining above which may lead it towards next resistance level of 63.0000.
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