The Rupee opened 2 paise down at 64.30 against dollar on account of buying of American currency by bank and exporters.
The dollar started the week at three-week highs against a currency basket on Monday, after a key US Federal Reserve official reinforced the central bank’s commitment to interest rate hikes. New York Fed President William Dudley said the Fed might avoid raising interest rates at the same time that it begins shrinking its $4.5 trillion bond portfolio, prompting only a “little pause” in the central bank’s rate hike plans.
• Greece Industrial Production (YoY) climbed from previous 7.2% to 10.8% in February.
• Japan Eco Watchers Survey: Outlook down to 48.1 in March from previous 50.6.
• Greece Consumer Price Index (YoY) came in at 1.7%, above expectations (1.3%) in March.
USDINR showed pull back from lower regions and closed above the previous close.
If it continues the pull back then 65.0000 may act as important resistance and 64.3000 will continue to act as strong support.
EURINR opened gap down and closed on a flat to negative note on back of gradual recovery during the session.
On lower side, 68.2000 is seen as strong support closing below which can further drag the counter on lower side. Immediate resistance is seen near 69.0000.
GBPINR found strong support on daily chart and headed higher from there.
Strength can be seen as a result of correction till it sustains above 79.7500 whereas 80.6000 may resist the currency pair to move northwards.
JPYINR continued the bearishness and closed around the support so seen on daily chart.
Now, any closing below 57.8000 can result in weak trend of the currency pair whereas 58.5000-58.7000 is seen as resistance range.
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