The rupee rallied by 59 paise to 63.10 as the dollar wallowed near three-year lows against its peers after caving on comments by US Treasury Secretary Steven Mnuchin that he welcomed a weaker currency, while the euro steadied ahead of the European Central Bank’s policy decision.The single currency took a breather from an overnight rally, easing 0.1 per cent to $1.2396. It had soared 0.9 per cent to $1.2415 on Wednesday, its highest since December 2014.
- United Kingdom CBI Distributive Trades Survey – Realized (MoM) in line with expectations (12%) in January.
- United Kingdom BBA Mortgage Approvals below forecasts (39.7K) in December: Actual (36.115K).
- South Africa Producer Price Index (MoM) meets expectations (0.6%) in December.
USDINR opened gap down but recovered from its support level and closed the session with weak note. It has major support of 63.6000 if it sustain below this then more selling towards next support level can be witness whereas 64.0000 is acting as a psychological resistance level.
EURINR pair opened the session with strongly bullish note and continue its upside movement, closed with good gain. For upcoming session if it manages to hold above 79.5000 then it can move towards next resistance of 79.9000. On downward side 78.8000 is support level.
GBPINR pair opened with gap up and continued its upward journey, closed the session with bullish note. Now, 91.3000 is immediate resistance level if it manages to hold it then it can move towards next resistance and on downward side 90.5000 is support level.
JPYINR pair has continued its upside movement and closed the session with positive note. This pair has immediate resistance of 58.7000 above this it may move towards next resistance level of 58.9000. On southern side 58.2000 as a crucial support level.
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