Against the US dollar, the Indian rupee opened flat at 69.0525 and throughout the day hovered in the range of 69.2150 and 68.8225 on Monday on month-end demand for the American currency from importers amid a weak opening in domestic equity market. Apart from that, the US dollar edged back from a six-week low against the yen and this factor also weighed on the domestic unit. The dollar is edging lower against major Asian peers but holding on to most of the gains it made during Friday’s big risk-off movement in global markets.
- China refuses to concede on US demands to ease curbs on tech firms.
- PBOC cut Yuan’s fixing by 154 pips to 6.7098 per USD, vs 6.6944 one day earlier.
- Yen gains as global economic worries drive risk aversion.
- Turkish Lira Rebounds as Erdogan Warns Bankers Will Be Punished.
USDINR after positive opening found resistance on higher levels closed with partial loss. 69.0000 is crucial level for the currency pair sustaining below this mark it may drag towards support of 68.5000. On higher levels 69.3000 is strong resistance for it.
EURINR showed sideways to bearish movements closed around its support. Currency pair shows negative movements if able to sustain below 78.0000 mark in upcoming session and find support around 77.5000.
GBPINR showed correction from higher levels found support and closed with gain. Sustaining above 91.0000 level give strength to particular currency pair which may lead it upto 91.5000 mark. On downward side 90.7000 is immediate support.
JPYINR found strong resistance on higher levels showed correction closed with flat note. If able to sustain on lower levels in upcoming session then drag towards its strong support zone of 62.0000 below which it is more bearish.
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