The Indian rupee (INR) opened at 71.1000 and throughout the day traded in the range of 71.1675 and 70.9600 against the US dollar. The domestic currency has been under pressure for past three trading sessions as rallies are sold off. As per macro front, core sector output data for the month of September released yesterday showed that it contracted by 5.2 per cent compared to an expansion of 4.3% in corresponding month of previous year. Also, fiscal deficit for the year is currently 6.51 lakh crore as of September.
- Asian stocks cautiously bid on China’s Caixin PMI with all eyes on US NFP.
- New Zealand: Unemployment rate to rise to 4.2% in the September quarter.
- Caixin Manufacturing PMI: 51.7 vs expectations of 51, AUD/USD firms.
USDINR unable to sustain on higher levels showed correction closed around its support.
Sustaining below 71.0000 mark currency pair shows correction and find support around 70.7000. On upward side 71.2000 is act as immediate resistance.
EURINR showed bearish movements and closed with negative note.
79.0000 is seen as strong support zone for the currency pair sustaining below this mark it may drag towards next support of 78.8000.
GBPINR found resistance and showed correction closed with partial loss.
If able to sustain above 92.0000 mark in upcoming session then currency pair continue its bullish movements and find resistance near 92.5000.
JPYINR showed sideways movements throughout the session closed with flat note.
66.0000 is still act as resistance zone for the currency pair breakout above this mark it may shows positive movements towards 66.4000.
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