The rupee on Thursday opened 6 paise up at 64.53 against dollar on account of selling of American currency by corporates.
The U.S. dollar fell on Thursday, giving up some of its gains this week, as investors took profits after the U.S. Federal Reserve left interest rates unchanged on Wednesday, as expected, with markets widely expecting a rate hike at its next meeting. Trump preparing to nominate Governor Jerome Powell, seen as less hawkish than other candidates, markets waited for fresh data to push the dollar.
• United Kingdom PMI Construction came in at 50.8, above expectations (48) in October.
• Germany Unemployment Change came in at -11K, below expectations (-10K) in October.
• Australia Trade Balance registered at 1745M above expectations (1.2M) in September.
USDINR pair has given good short covering from its lower level and closed the day with good gain.For upcoming session if it manages above 65.0000 level then it may move towards next resistance level, 64.6000 is immediate support zone.
EURINR pair opened with gap down and bounce back after testing its support level, settled near to its days high.
It has crucial support level of 75.45000 below this more selling can be seen. 75.7500 is psychological resistance level.
GBPINR pair opened with gap down and pull back form its support level in first half but unable to hold higher level and came down, closed with negative note.85.6000 is support level below correction is expected. 86.0000 is good resistance level.
JPYINR pair continued its southward journey and closed near to its days low.Now 56.8000 is important support level below this down side movement may expected. 57.0000 is major resistance level.
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