Market Outlook

In early trade, rupee appreciated by 4 paise to open at 69.6500 against the US dollar, driven by weakening of the greenback in overseas markets and sustained foreign fund inflows. On the flip side, dollar remained on flat note against major Asian peers while the euro fell to a one-week low after weak manufacturing surveys in Europe raised concerns about an economy struggling to gain traction before the long Easter weekend. The currency market will remain closed on Friday, 19 April 2019, on account of Good Friday

Fundamental News

  • No U.S. – UK trade deal if Good Friday Agreement undermined after Brexit.
  • The Australian dollar rose on stronger-than-expected jobs data for March.
  • Stronger JPN employment growth lifts PMI, but export demand continues to falter.

USDINR after correction found resistance closed around its support.

If continues negative movements in upcoming session then 69.0000 is act as strong support for particular currency pair below which it is more bearish.

EURINR showed bearish movements throughout the session closed with loss.

78.0000 is seen as immeadiate support zone for the currency pair sustaining above this mark it may shows bullish movements towards 78.7000.

GBPINR showed sideways to bearish movements closed with negative bias.

Psychological level of 90.0000 is act as strong support for the currency pair breakout below which it may continue negative movements.

JPYINR after correction unable to sustain on higher levels closed with negative note.

Sustaining below 62.0000 mark currency pair continue its bearish movements and find next support around 61.5000. On higher levels 62.4000 is act as resistance.

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