The Indian rupee pared all the morning losses and strengthened against the US dollar after local equity markets jumped over 500 points. The home currency was trading at 64.26 a dollar, up 0.14% from its previous close of 64.29. The currency opened at 64.38 and touched a high and a low of 64.15 and 64.39, respectively. “The dollar recovered from its lows on robust data and resolution of debt ceiling. Crude oil prices are sharply lower.”
- South Africa Manufacturing Production Index (YoY) meets expectations (2%) in December.
- Brazil IPCA Inflation below expectations (0.41%) in January: Actual (0.29%).
- Chile Consumer Price Index (Inflation) (MoM) above forecasts (0.27%) in January: Actual (0.5%).
USDINR pair unable to hold its higher level and came down closed the session with negative bias. This pair has major resistance of 64.6000 if it manages to hold above this mark then it can go towards next resistance level of 64.8000, whereas 64.1000 is support level.
EURINR pair drags down from its upper level and closed the day with negative note. It has immediate support of 78.8000 below this it can follow its downside movement, on upward side it has resistance of 79.3000.
GBPINR pair has given some bounce back from its support level and closed with partial gain. For upcoming session if it manages to sustain below its support level of 89.2000 then it can continue its down side movement, on higher side 90.0000 is resistance level.
JPYINR pair has witnessed steep fall from its resistance level and settled the day with weakness. Now, it has immediate support of 58.6000 below this mark it may give some correction, whereas 59.2000 is resistance level.
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