Market Outlook
Rising for the third straight day, The Indian Rupee appreciated by 17 paise to open at 68.5525 and swing around in the range of 68.6450 and 68.4150 against the US dollar bolstered by easing food prices and continued selling pressure of greenback by exporters and banks. On the flip side, dollar trading near a 10 day peak after US consumer data showed a build-up of inflation pressure that would allow the Fed to raise rates as many as four times this year. Moreover, favorable performance of US economy and Treasury yields have raised boosted the Dollar.

Fundamental News
• Germany Wholesale Price Index (MoM) came in at 0.5%, above expectations 0.4% in June.
• Norway Trade Balance increased to 22B in June from previous 16.3B.
• Japan Capacity Utilization below expectations -1.2% in May: Actual 2.1%.

USDINR unable to sustain on lower levels closed with partial loss.
For upcoming session if continue to trades above its immediate resistance level then positive rally can be seen in it towards 69.0000 level.

EURINR showed sideways to negative movements closed with negative bias.
Sustaining below its psychological level of 80.0000 may give more correction in currency pair and find next support around 79.4000.

GBPINR showed negative movements and closed around its support level.
Currency pair continue positive rally if sustain above its immediate support level of 90.0000 and may find next resistance around 90.5000.

JPYINR found strong support on lower levels showed correction closed with partial loss.
If continue to trades on higher levels in coming session then find resistance near 61.5000 level. On downward side it has strong support of 60.8000.

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