The Indian rupee appreciated by 14 paise to open at 69.8900 against the United States (US) dollar following the BJP’s thumping victory in the Lok Sabha polls. Strong foreign institutional investment (FII) inflows and higher domestic equity markets also buoyed sentiments for the rupee. On the other hand,dollar edged away from two-year highs on Friday after weak U.S. manufacturing activity data sparked worries that the trade conflict with China may hurt the world’s largest economy and affect the currency’s safe-haven status.
- Aussie slips on aggressive RBA rate cut calls; eyes on UK data/ politics.
- China said to be issuing a policy boost to help aid the development of small tech firms.
- Sentiment turns against the US dollar as a global slowdown looms.
- RBA to cut the cash rate to 0.75% by November; AUD to USD0.66 by end 2019.
USDINR after negative opening showed bearish movements closed with negative note.
If shows some correction in upcoming session then 70.0000 is act as strong resistance for the currency pair above which it is more bullish.
EURINR found resistance on higher levels showed correction closed with negative bias.
If able to sustain below 78.0000 mark then continue bearish movements towards its support zone of 77.3000 below this mark it comes in negative territory.
GBPINR after correction found resistance on higher levels closed around its support.
Sustaining above support zone of 88.0000 currency pair shows bullish movements towards its immediate resistance of 88.5000.
JPYINR unable to sustain on higher levels closed with partial loss.
Currency pair shows more bearish movements if able to sustain below support of 63.4000 and finds next support around 63.0000
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