Market Outlook
Against dollar, the Indian Rupee depreciated by 6 paise to open at 68.7400 and swing around in the range of 69.1300 and 68.7225 following uptick in global crude oil prices and the greenback strengthen against it crosses. Moreover, fresh demand for the dollar by banks and exporters and dollar’s firmness against basket of currencies weighed on the domestic unit. On contrary, the dollar is trading near its one year high after hawkish comments by the chairman of the U.S. Federal Reserve underlined expectations for two additional rate hikes.

Fundamental News
• Switzerland Trade Balance registered at 2591M, below expectations 3220M in June.
• Netherlands, The Unemployment Rate s.a (3M) remains unchanged at 3.9% in June.
• Australia Employment Change s.a. came in at 50.9K, above forecasts 17K in June.

USDINR showed positive movements sustain on higher levels closed with gain.
Now, 69.3000 is immediate resistance for the currency pair if able to maintain above it then more bullish rally can be seen in it towards 69.5000.

EURINR open with positive bias showed sideways movements closed with gain.
Currecny pair unable to sustain on higher levels if continue correction then it may find support near 80.0000. On upward side 80.4000 is resistance for it.

GBPINR showed correction after positive opening closed with partial gain.
89.4000 is act as strong support for the currency if break in upcoming session then it may show more negative movements and find support around 89.0000.

JPYINR showed sideways to positive movements and closed with positive note.
If sustain on higher levels i.e. above 61.2000 then continue positive rally towards its resistance zone of 61.6000. On downward side 61.0000 is immediate support for it.

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