The Indian rupee firmed up by 11 paise to open at 68.8200 and swing around in the range of 68.8200 and 68.5900 against the US dollar on robust capital inflows and fresh selling of the greenback by exporters and banks. On contrary, dollar at its nine days high against basket of currencies on account of mounting US-China trade tensions and strong US inflation data. Moreover, Market participants await the index of industrial production (IIP) and inflation data to be released later today
• Greece Unemployment Rate (MoM) rose from previous 20.1% to 20.2% in April.
• European Monetary Union Industrial Production s.a. (MoM) above expectations 1.2% in May: Actual 1.3%.
• France Consumer Price Index (EU norm) (MoM) below forecasts 0.1% in June: Actual 0%.
USDINR showed sideways to bearish movements closed with loss.
Found support on lower levels if sustain above it then continue bullish movements towards 69.0000 level. On lower side 68.5000 is act as strong support. EURINR showed negative movements closed around its psychological level.
For upcoming session 80.0000 is the vital support zone for the currency pair sustaining above which may take it towards 80.6000 level. GBPINR unable to hold its intraday higher level drag down closed with loss.
On daily it has trades near to its support level if continue to trades above it then shows bullish rally towards its resistance zone of 91.2000. JPYINR showed negative movements throughout the session closed with negative note.
Now, 60.9000 is act as strong support for the currency pair if break in upcoming session then it will come in bearish zone and find next support near 60.7000.
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