The Indian Rupee opened flat at 71.1000 and throughout the day hovered in the range of 71.3250 and 71.1000 against the US dollar amid strengthening American currency and rising crude prices.Moreover, fresh foreign fund inflows and positive opening in domestic equities capped the losses for the domestic unit.On the other hand, dollar was marginally changed against its major Asian peers amid optimism of progress in Sino-U.S. trade talks while the pound was lower as the uncertainty over Brexit continued to put pressure on the economy.
- Japan Capacity Utilization declined to 1% in November from previous 4%
- European Monetary Union Current Account n.s.a: €23.2B (November) vs previous €26.6B
- PBOC set the Yuan reference rate at 6.7665 vs 6.7592.
USDINR showed sideways movement for the whole session but closed on a positive bias.If it is able to continue the up move then 71.5000 is seen as immediate resistance resistance while on lower side 70-8000-70.5000 is support range.
EURINR gradually moved towards the resistance and settled on a positive note.Now, for the coming session, 81.6000 is seen as immediate resistance closing above which can lift it towards 82.0000 whereas 81.0000 is seen as support.
GBPINR after a gap up opening was able to sutain on higher levels and closed above the resistance levels.If the currency pair sustains above 92.6500 then it may further move towards higher side whereas 91.2500 is seen as support from current levels.
JPYINR opened gap down and closed on negative note as it sustained on lower levels for the entire session.Pull back can be seen from the support level of 65.0000 and 66.0000 is seen as resistance for it while surpassing the mark of 65.0000 can drag it towards 64.5000.
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