Market Outlook
The Indian Rupee deprecated by 16 paise and opened at 68.2525, throughout the day it hovered in the range of 68.2875 and 68.0125 against the US dollar after the country’s trade deficit widened more than expected amid renewed global trade war fears. Contrarily, the dollar edged up towards a seven-month high on Monday as investors bet the United States and China would avoid a full-blown trade war, although tensions between the two slowed its gains.

Fundamental News
• Italy Global Trade Balance came in at €2.938B, below expectations (€3.21B) in April
• Japan Merchandise Trade Balance Total came in at ¥-578.3B, below expectations (¥-235B) in May
• Turkey 3mth quarterly jobless average dipped from previous 10.6% to 10.1% in March

USDINR open with negative bias showed correction and closed with loss.
If currency pair breaks its immediate resistance mark on intraday charts then upward movement can be seen towards 68.2900.

EURINR open with flat note and traded in sideways zone and ended the session on positive note.
If currency pair breaks its immediate resistance mark on intraday charts then northward movement can be seen towards 79.2200


GBPINR found support on lower levels showed correction closed with negative note.
If currency pair open above its immediate resistance level of 90.6400 then shows some positive movements towards 90.8400. On lower levels 90.1000 is support for it.

JPYINR showed sideways movements after gap up opening closed with partial loss.
If Currency pair open above its immediate resistance level of 61.8300 then shows some positive movements towards 62.1000. On lower levels 61.5700 is support for it.

(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Your email address will not be published.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 *