On Friday, the Indian rupee appreciated by 10 paise to open at 69.2900 and throughout the week traded in the range of 68.8000 and 69.6675 against the US dollar, driven by weakening of the greenback in overseas markets and a higher opening in domestic equities. On the flip side, dollar remained on track for a second-straight weekly win despite rising investor expectations that the Federal Reserve will keep monetary policy tightening on hold following a mixed U.S. jobs report.
- U.S. and Chinese trade negotiators will continue their talks next week by video conference as they try to reach a deal to resolve a nine-month-old trade war
- UK PM Theresa May says government is prepared to seek changes to Brexit Declaration
- The Canadian economy unexpectedly shed 7,200 jobs in March.
USDINR opened with negative bias showed correction and closed with partial gain. On higher levels 69.7000 is act as strong resistance zone for currency pair breakout above this mark it may find next resistance around 70.0000.
EURINR after positive movements from lower levels closed around its resistance. If able to sustain above its immediate resistance of 78.3000 it may shows bullish movements towards 78.5000. On lower levels 77.8000 is act as strong support.
GBPINR after negative opening showed correction unable to sustain on higher levels closed with loss. Now, 90.5000 is seen as strong support for the currency pair sustaining below this mark it may shows more bearish movements towards 90.0000 level.
JPYINR showed sideways movements throughout the session closed with negative note. Currency pair continue its negative movements if breaks immediate support and drag towards 62.0000 mark below which it is more bearish.
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