Market Outlook

The Rupee opened up by 9 paisa, made a low of 64.9475 in early trade and hovering in the range of 10 paisa between 65.0650 to 65.1725 during trading hours against the dollar selling by banks and exporters, amid firm domestic equities. On hopes the USD edged higher today, extending a two-week winning streak, “the U.S. currency is down around 2 percent this year and the outlook has dimmed further as the dollar has fallen in recent weeks.”

Fundamental News

  • Foreign Reserves (MoM) of Singapore increased to 287B in March from previous 282.8B.
  • Halifax House Prices (3m/YoY) of United Kingdom registered at 2.7% above expectation.
  • Imports (MoM) of Germany registered at -1.3%, below expectations (0.3%) in February.


USDINR showed correction after negative opening and closed with partial gain. Unable to sustain below 65.0000 level pull back from its support suggesting more correction in it. On lower levels 64.8000 is major support.


EURINR open with gain and continue bullish movements closed with positive bias. Closing above its psychological support of 80.0000 shows more strength in currency pair towards next resistance level of 80.3000.


GBPINR showed strength and closed around its resistance level. For upcoming session is sustain below 91.8000 then give correction and may find support near 91.3000. On higher side immediate resistance is seen around 92.2000.


JPYINR showed sideways to positive movements and closed with partial gain. On upper levels 61.0000 is strong resistance mark for it more correction is expected if sustain below this level and may find support around 60.5000.

Click to submit your details) Just one step to get best trading tips and Recommendation.

Leave a Reply

Your email address will not be published. Required fields are marked *