The rupee rebounded friday from Thursday’s three-month lows, rising to as much as 64.69 against US dollar today. Higher domestic equity markets and a pause in global usd rally helped lift up rupee from three-month lows. Dollar rally broadly tent today as US Treasury yields declined from their recent high. Asian stock markets rebounded today after a Federal Reserve official eased worries about aggressive rate hikes from the US central bank.
- India FX Reserves, USD climbed from previous $419.76B to $421.72B.
- European Monetary Union Consumer Price Index – Core (MoM) below forecasts (-1.6%) in January: Actual (-1.7%).
- Austria Industrial Production (YoY) increased to 3.5% in December from previous 3.4%.
USDINR pair has drag down from its higher level and closed with loss. For upcoming session if it sustain below its crucial support level of 64.9000 then more down side movement can be seen where as 65.2000 is resistance level.
EURINR pair has given support level break out and closed with negative sentiment. This pair has immediate support level of 79.9000 below this more down side correction can be seen, on higher side 80.4000 is resistance level.
GBPINR pair has bounce back from its lower level and closed in flat note. It has major resistance level of 91.0000 above this mark it can move towards next resistance level of 91.2000. On down side 90.5000 is support level.
JPYINR pair opened with gap up but unable to hold its higher level and came down, closed near to its days low. Now, it has resistance level of 61.0000 above this mark upside movement can expected toward next resistance level of 61.2000 where as 60.7000 is support level.
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