The Indian rupee appreciated by 12 paise to 71.9000 against the US dollar on Friday as gains in domestic equity market and weakening of the American currency vis-a-vis other currencies overseas strengthened investor sentiments. The dollar found broad support on Friday as fresh signs of a global economic slowdown and little visible progress toward a Sino-US trade truce put investors in a risk-averse mood.
- USD/IDR: Rupiah hits three-day highs post-Indonesian trade data.
- US trade deal approved by the Japanese lower house committee.
- PBOC injects CNY 200 bln via one-year MLF – USD/CNY slumps to 7.00
- China stands firm on demand that US lifts tariffs to reach trade deal.
- Kudlow’s optimism lifts markets, Fed sounds festive, US retail sales eyed.
USDINR opened with negative bias showed sideways movements closed with loss. If sustain on lower levels currency pair shows bearish movements and find support around 71.6000. On higher levels 72.3000 is strong resistance for it.
EURINR found support on lower levels closed around its resistance. 79.5000 is seen as immediate resistance zone for the currency pair breakout above this mark 79.8000 is act as next resistance.
GBPINR after correction showed sideways movements closed with flat note. Currency pair continue bullish movements if able to sustain above immediate resistance of 92.6000 and find next resistance around 93.0000.
JPYINR showed sideways to bearish movements closed with negative note. Sustaining above 66.0000 mark currency pair continue positive movements and find resistance around 66.5000 above which it is more bullish.
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