Against the US dollar, the Indian Rupee surged up 12 paise to open at 68.7975 and swing around in the range of 68.9075 and 68.6825 throughout the day on account of weakening of dollar against other currencies overseas and persistent foreign fund inflows. On the flip side dollar remained in under pressure after Donald Trump doubled down on his criticism of global monetary policy and the Federal Reserve last week while the yen spiked on reports Japan’s central bank is debating moves to reduce its massive monetary stimulus.
- United States CFTC Oil NC net positions fell from previous 654.5K to 631.3K
- European Monetary Union CFTC EUR NC net positions fell from previous €24.4K to €21.4K
- Japan CFTC JPY NC net positions declined to ¥-58.6K from previous ¥-39.8K
USDINR unable to sustain on lower levels showed correction closed with partial loss.
Now, if sustain above 69.0000 in upcoming session then it may continue bullish rally towards next resistance level of 69.3000.
EURINR after correction unable to sustain on lower levels closed around its day high.
Currency pair continues positive movements towards its psychological resistance of 81.0000 above which it is more bullish. On lower levels 80.5000 is immediate support.
GBPINR showed positive movements throughout the session closed with gain.
Sustaining above its resistance level suggest more bullish movements in it and may find resistance around 91.0000. On downward side it has strong support of 90.3000.
JPYINR showed sideways to positive movements and closed with gain
Opening above its immediate resistance level may give strength to the currency pair and shows positive rally towards resistance zone of 62.5000.
(Click to submit your details) Just one step to get best trading tips and Recommendation