Against the US dollar, the Indian rupee appreciated by 7 paise to open at 69.3875 and throughout the day hovered in the range of 69.4300 and 69.1200 driven by sustained foreign fund inflows and a higher opening of domestic equities. On the flip side, the dollar closed lower against major Asian peers as investors digested headlines suggesting progress toward a US-China trade deal has stalled against the backdrop of weaker-than-expected Chinese economic data.
- Sterling Drifts Lower as May prepare 3rd Brexit Vote.
- A meeting between President Donald Trump and Chinese President Xi Jinping will be delayed until at least April.
- The Bank of Japan kept its monetary policy steady on Friday in a widely expected move, where the short-term interest rate will remain at minus 0.1%.
USDINR after correction found resistance on higher levels closed with a negative note. If able to continue negative movements then a psychological level of 69.0000 is seen as immediate support below which it is more bearish.
EURINR showed sideways to bearish movements closed with a loss. Now, sustaining below the resistance zone of 78.7000 may result in more bearish movements and find next support around 78.0000.
GBPINR showed sideways movements closed around its resistance. Psychological level of 92.0000 is seen as immediate resistance zone for the currency pair breakout above this level may take it towards 92.5000 marks.
JPYINR showed bearish movements throughout the session closed with a negative bias. Currency pair continue its bearish rally if sustain below support of 62.0000 and drag towards its next support zone of 61.5000.
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