The Indian Rupee apreciated by 3 paise to open at 71.2875 and throughout the day hovered in the range of 71.4775 and 71.0400 against the US dollar on account of positive opening in domestic equities and weakening green-back in overseas markets. Moreover, easing crude oil prices and selling of the American currency by exporters bolstered the sentiment of Rupee.On flip side, dollar pushed higher against major Asian peers, building on its recent strong gains, while the pound slipped amid softer risk sentiment.
- The euro area annual inflation rate was 1.6% in December 2018, down from 1.9% in November
- The pound was also weaker against the dollar as uncertainty over Brexit rumbled on.
- Spain 5-y Bond Auction dipped from previous 0.329% to 0.289%
USDINR after positive movements found resistance on hgher levels closed around its support.
Sustaining below 71.0000 mark in upcoming session may drag currency pair towards its next support zone of 70.5000. On higher side 71.3000 is immediate resistance.
EURINR opened with negative bias showed bearish movements closed near to its support.
Now, 81.0000 is seen as immediate support for the currency pair sustaining below this level more negative movements were seen in it.
GBPINR gave flase breakout on higher levels and closed with partial loss.
If continue correction phase in upcoming session then it may find support near 91.5000 mark below which it is more bearish.
JPYINR after correction unable to sustain on higher levels closed around its day low.
Currency pair find strong support around 65.0000 mark if shows negative movements. On higher levels 65.7000 is strong resistance for it.
(Click to submit your details) Just one step to get best trading tips and Recommendation.