The Indian Rupee firmed up by 7 paise to open at 68.8000 against the US dollar on account of increasing selling of the dollar by banks and exporters. On the flip side, dollar slide against basket of currencies ahead of US Independence holiday as concerns over heightened trade tensions remained to the leading edge. Moreover, Market participants remained cautious ahead of Friday’s deadline for the U.S. to impose a 25% tariff on Chinese imports.
• United Kingdom Markit Services PMI came in at 55.1, above expectations 54 in June.
• European Monetary Union Markit Services PMI came in at 55.2, above expectations 55 in June.
• Russia Purchasing Manager Index Services fell from previous 54.1 to 52.3 in June.
USDINR showed positive movements found resistance on higher levels closed with positive bias.
For upcoming session if sustain above its psychological resistance level of 69.0000 then continue bullish movements towards 69.3000 level.
EURINR showed sideways movements throughout the session closed with flat note.
If shows positive movements then it may find resistance around 80.6000 above which it is more bullish. On lower levels 80.2000 is immediate support for it.
GBPINR showed positive movements closed above its resistance level.
Currency pair sustain above 91.0000 level suggesting more bullish rally and find resistance around 91.5000. On downward side it has strong support of 90.6000.
JPYINR showed positive movements after positive opening closed with positive note.
Opening above 62.5000 may give strength to the currency pair for more positive movements and may find resistance around 63.0000 levels.
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