Market Outlook

The domestic unit opened a tad up at 64.56 at the Interbank Foreign Exchange market today. It hovered in a range of 64.74 and 64.56 before quoting at 64.70, down 12 paise.
However, the US dollar was listless against the euro in the global market after data showed that the euro zone economy continued to improve and job creation grew at its fastest pace in 17 years. An upward movement in domestic equities, however, prevented the rupee from going further down, traders said.

Fundamental News

•    Ireland Retail Sales (YoY) increased to 4.5% in October from previous 1.2%.
•    European Monetary Union Private loans (YoY) above expectations (2.4%) in October: Actual (2.7%).
•    Sweden Trade Balance (MoM) dipped from previous 2.6B to -3.1B in October


USDINR pair has continuously followed downward journey and closed the session near to its days low.It has 64.2000 as a crucial support level below this it can move towards its next support zone. 64.7000 is immediate resistance level.



EURINR pair drags down from its higher level and settled the day with loss.Now, 76.5000 is important support level for it below this more correction were expected. 77.1000 is act as resistance level.



GBPINR opened with negative bias closed the session near to its support zone.Now, 85.8000 is important support level below this correction can be seen.  On higher level 86.3000 is major resistance.



JPYINR pair has given breakout of upward sloping trend line and sustain below it, settled the day on negative note.
Now, 57.8000 is major support level below this its price pull down towards next support level. 58.3000 is immediate resistance level.


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