Market Outlook

The rupee dropped 14 paise to 64.72 against the US dollar today as the American currency gained traction among importers.
However, the US dollar was listless against the euro in the global market after data showed that the euro zone economy continued to improve and job creation grew at its fastest pace in 17 years. An upward movement in domestic equities, however, prevented the rupee from going further down, traders said.

Fundamental News

•    Germany IFO – Current Assessment below expectations (125) in November: Actual (124.4).
•    Italy Industrial Sales s.a. (MoM) declined to -1.2% in September from previous 2%.
•    Switzerland Industrial Production (QoQ) up to 8.6% in 3Q from previous 2.9%.


USDINR pair has given short covering after steep fall and settled the day with gain.It has major resistance of 64.9000 if it manages to hold above it then good bounce back may be witness. 64.5000 is important support level.



EURINR pair continued its northward journey and closed with positive biasness.Now, 77.0000 is act as good resistance level above this break out can be seen. On lower side 76.5000 is major support zone.



GBPINR pair bounced back from its support zone and settled the session with bullish note. For upcoming session if its break 86.5000 then up side movement can be seen. 85.7000 is support zone below this correction is expected.



JPYINR pair opened gap down and moved under tight range throughout the day, closed with negative biasness.
Now, 57.9000 is important support level below this correction can be seen. 58.2000 is major resistance above this it may continues bullish movement.


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