The Indian Rupee weaken by 4 paise to open at 68.9050 and hovered in the range of 69.1825 and 68.8550 against the US dollar on account of rise in global oil prices, increasing demand for the dollar from banks as well as importers amid persistent foreign fund outflows and lower domestic bourses. On the flip side, against basket of currencies dollar edged lower, as a loooming deadline for imposition of import tarrifs from US on china worried investors across Asia.
• Hong Kong SAR Nikkei Manufacturing PMI dipped from previous 47.8 to 47.7 in June.
• Netherlands, The Consumer Price Index n.s.a (YoY) unchanged at 1.7% in June.
• Japan Foreign investment in Japan stocks up to ¥-299.8B in June 30 from previous ¥-483.5B.
USDINR showed positive movements closed above its psychological resistance level.
If sustain above 69.0000 then it may continue positive movements and may find resistance around 69.5000. On lower levels 68.8000 is support for it. EURINR showed positive movements throughout the session closed with positive bias.
Now, 81.0000 is act as immediate resistance mark for the currency pair sustaining above this may give more positive strength in it towards 81.5000. GBPINR showed positive movements closed with positive note.
Opening above its resistance level may take it towards its resistance zone of 92.0000 above which it is more bullish. On downward side 91.2000 is act as strong support. JPYINR after correction unable to sustain on lower levels closed with partial gain.
Currency pair found support on lower levels suggesting positive strength in it and may continue bullish movements above its resistance level of 62.7000.
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