Market Outlook

The rupee on Wednesday opened 7 paise down at 65.14 against dollar on fresh bouts of demand for the American currency from corporates and banks. The dollar traded near a three-month high against the yen on Wednesday, underpinned by reports that Republican senators were favouring John Taylor to become the next head of the US Federal Reserve.

Fundamental News

•    Switzerland UBS Consumption Indicator up to 1.56 in September from previous 1.53.
•    Austria Industrial Production (YoY) down to 4% in August from previous 5.7%.
•    Australia Consumer Price Index (QoQ) below forecasts (0.8%) in 3Q: Actual (0.6%).

USDINR

USDINR pair started the day with gap up but unable to hold higher level and came down, closed near to its support level.For upcoming session if its price sustain below 64.9000 then correction can be seen and northern side 65.1500 is resistancet level.

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EURINR

EURINR pair started the day with upside movement but unable to break its resistance level and drag down, settled the day with negative note.It has major support level of 76.3000 below this it can continue its downward journey. 76.7500 is resistance level level.

2

GBPINR

GBPINR pair has given good recovery from its support level and ended the day with good gain.Now 86.4000 is important resistance mark above this it can move towards next resistance level. 85.7000 is crucial support zone.. 86.0000 is major resistance level.

3

JPYINR

JPYINR pair has given steep fall and settled the day with negative note.56.8500 is crucial support level below this it can drag down towards deeper support level. 57.1000 is major resistance level.

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