The Indian Rupee opened flat at 68.8625 and swing around in the range of 69.0075 and 68.8500 against the US dollar on account of fresh dollar buying by importers amid Moreover, against the basket of currency, the dollar strengthen which weighed on the Rupee but strong domestic bourses capped the losses. On the flip side, Dollar regained from its lowest point in more than 3 weeks, spurred by flight from the UK pound sterling. Political chaos in the UK caused by the resignation of Foreign Secretary Boris Johnson helped to prop the greenback.
• Spain 12-Month Letras Auction declined to -0.351% from previous -0.348%.
• European Monetary Union ZEW Survey – Economic Sentiment came in at -18.7, below expectations -13.2 in July.
• Greece Industrial Production (YoY) below forecasts 1.9% in May: Actual 1%. USDINR showed sideways to positive movements closed with gain.
Currency pair unable to sustain above its psychological level of 69.0000, if open below this level in upcoming session then more correction can be seen in it.
EURINR showed negative movements in second half closed with loss.
81.0000 is act is immediate resistance for the currency pair if able to sustain above it then bullish movements can be seen otherwise continue correction phase. GBPINR after correction unable to sustain on higher levels closed around its day low.
Opening below its support level may drag it towards its support level of 91.0000 below which it is more bearish. On higher levels 91.8000 is major resistance for it.
JPYINR found resistance on intraday levels closed with negative note.
Now, 61.9000 is strong support zone for the currency pair if break in upcoming session then it may drag towards next support level of 61.7000.
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