The Indian Rupee opened flat at 69.0975 and throughout the day hovered around 69.0975 and 68.5675 against the US dollar on account of heavy selling of dollar by exporters and banks. Moreover, the sentiment of Rupee was also propped up by strong domestic bourses. On the flip side, the dollar held firm after Donald Trump indicated a softer approach on Chinese investment in U.S. technology companies. The prospects of rising U.S. interest rates were also cited as supporting the dollar.
• France Producer Prices (MoM) increased to 0.6% in May from previous (-0.6%).
• Germany Retail Sales (MoM) registered at -2.1%, below expectations (-0.5%) in May.
• Switzerland KOF Leading Indicator above forecasts (101) in June: Actual (101.7).
USDINR showed negative movements closed below its psychological level.
If able to sustain below its strong resistance of 69.0000 then more correction can be seen in it towards 68.3000 levels. On higher levels 69.3000 is major resistance for it.
EURINR showed choppy movements closed with flat note above its support.
80.3500 is immediate resistance for the currency pair if sustain above it then positive rally seen in it and may find next resistance around 80.6000.
GBPINR found support on lower levels closed near to its resistance level.
Currency pair continue its bullish movements if sustain above its resistance zone of 90.6000 and may find next resistance around 91.0000.
JPYINR showed sideways to negative movements after negative opening closed with loss.
Psychological level of 62.0000 is act as major support for it, if break in upcoming trading session than drag towards 61.8000 levels.
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