The rupee (INR) strengthened to nearly 3-month high of 64.23 against the US dollar (USD) today at the interbank forex market today – the highest value of the rupee against the dollar since September 13. Traders attributed the rupee’s gains to increased selling of the American currency by banks and exporters. The dollar losing sheen against some other currencies overseas also supported the local unit, traders said. On Monday, the rupee had gained by 9 paise to end at 64.37 against the US dollar in a highly volatile trade.
• Brazil Industrial Output (MoM) meets expectations (0.2%) in October.
• European Monetary Union Retail Sales (YoY) came in at 0.4% below forecasts (1.5%) in October.
• South Africa Gross Domestic Product (YoY) meets expectations (0.8%) in 3Q.
USDINR pair has given short covering form its lower level and closed the session on flat note. Now, it has important resistance level of 64.7000 above this upside movement can be seen, 64.4000 is crucial support level.
EURINR pair moved under a tight range throughout the day and settled the session near to its days high. It has important resistance level of 76.9000 above this upside breakout can be seen. On southern side it has crucial support level of 76.5000 below which some correction is expected.
GBPINR pair drags down from its higher level and closed the session with loss. For upcoming session if it breaks the support of 86.5000 then more selling can be witness. 87.0000 act as a psychological résistance level.
JPYINR pair has given short covering form its lower level and closed the session with good gain.It has important resistance level of 57.7000 above this it may take more upside movement. 57.2000 is crucial support level.
(Click to submit your details) Just one step to get best trading tips and Recommendation.