Market Outlook

The Rupee opened 2 paise down at 64.54 against dollar on Tuesday on account of buying of American currency by bank and importers amid continued geo-political headwinds.
The dollar steadied against the yen on Tuesday, with worries that U.S. currency manipulation complaints could touch Japan offset by U.S. Treasury Secretary Steven favoring of a strong dollar in the long term.
The Sri Lankan rupee traded slightly weaker on Tuesday in moderate volumes due to dollar demand from importers.

Fundamental News

•    China House Price Index declined to 11.3% in March from previous 11.8%.
•    United States Total Net TIC Flows fell from previous $110.4B to $19.3B in February.
•    Spain 9-Month Letras Auction down to -0.334% from previous -0.332%.

USDINR

USDINR took support at lower levels and gained in the last session to close in green.
If it continues the positive momentum then it may rise towards the next resistance of 65.0000 whereas 64.3000 is seen as near support for the pair.

1

EURINR

EURINR showed consistent rise during the session and closed on highs.
The counter was able to extend the pull back effect so seen in previous session and closing above 69.0000 can lead it towards the next key resistance of 69.4000.

2

GBPINR

GBPINR showed great recovery after a sudden downfall during the session.
The currency pair closed near the resistance mark on daily chart and positive breakout can be seen above 82.1000. On lower side, 81.7000 is seen as near support.

3

JPYINR

JPYINR opened gap down and sustained at lower levels for the entire session.
Strength is expected to continue till it sustains above 59.0000 where 59.7000 is seen as key resistance. On lower side 59.2000-59.0000 may continue to act as support range.

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