The Indian rupee on Wednesday strengthened marginally against the US dollar, tracking gains in the local equity markets. At 2pm, the home currency was trading at 64.85 a dollar, up 0.06% from its Tuesday’s close of 64.89. The rupee opened at 64.77 a dollar.
The euro edged higher for a second consecutive day on Wednesday, recouping more than half of its losses sustained after the German coalition collapse as investors bought the single currency on expectations of strong economic growth.
• Hungary Gross Wages (YoY) up to 13.6% in September from previous 13.2%.
• South Africa Consumer Price Index (YoY) meets forecasts (4.8%) in October.
• Turkey Consumer Confidence fell from previous 67.3 to 65.2 in November.
USDINR pair opened with negative bias but it bounces back from its support level and closed the day with flat note.
Now, 65.2000 is major resistance level for it above this more upside movement can be seen. 64.8000 is crucial support zone.
EURINR pair has given short covering form its lower level and settled the session with positive note. It has important resistance level of 76.5000 above this level then it can move towards the next resistance level. 76.1000 is immediate support level.
GBPINR pair witness pull back after weak opening and closed the day with positive bias. 86.3000 is act as resistance level if it breaks and manage this mark then good breakout can be seen. 85.7000 is support level below this some correction might be seen.
JPYINR pair has showed recovery from its lower level and closed the session with good gain.For upcoming session if it holds above resistance of 58.2000 then bullish movements can be seen. 57.7000 is crucial support level.
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