The Rupee plunges 28 paisa to 67.5125 and moved between 67.4200 and 67.6350 against the US dollar on account of rising dollar demand and foreign capital outflows. Moreover, the sentiment was also hit due to weaken domestic bourses and dollar demand from importers.
The dollar strengthened against major global currencies overseas as crude oil prices zoomed past $76 per barrel level and pushed Treasury yields higher after US President Donald Trump pulled out from the international nuclear deal with Iran.
• Italy Retail Sales n.s.a (YoY) up to 2.9% in March from previous -0.6%.
• France Industrial Output (MoM) registered at -0.4%, below expectations (0.4%) in March.
• Japan Leading Economic Index came in at 105, below expectations (105.2) in March.
USDINRUSDINR open with positive bias showed correction closed with gain.
Closing below its resistance and also form reversal pattern on dialy charts suggesting some correction if able to sustain below 67.5000 mark.
EURINREURINR after correction unable to sustain on lower levels showed strength and closed with positive note.
If continue bullish movements than immediate resistance for the currency pair is seen around 80.5000. On downward side it as strong support of 80.0000.
GBPINRGBPINR showed strength and able to close above its resistance level on daily charts.
Now, 91.5000 is act as strong support level for the currency pull back from this level may take it towards ressitance level of 92.0000 above which it is more bullish.
JPYINR JPYINR showed continuous downward movements and closed with negative bias.
61.5000 is immediate support mark for the currency open above this level may give strength to currency pair and bullish movements seen in it towards 61.8000.
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