Market Outlook

The Indian rupee on Tuesday strengthened against the US dollar, tracking the gains in Asian currencies markets. It extended its gains for the third straight session on Monday and opened 19 paise higher at 64.12 against dollar on account of selling of American currency by banks and exporters.
Most Asian currencies edged up against the dollar on Monday, shrugging off threats from a ransomware attack that locked up more than 200,000 computers in more than 150 countries, and a missile test by North Korea.

Fundamental News

•    Canadian, Aussie dollars driven higher by oil boost.
•    Asian currencies brush aside concerns over cyber attack, N.Korea threats.
•    Swiss Producer and import price index fell by 0.2% in Apr.
•    Chinese Industrial Production, Retail Sales Growth Slow in March.


USDINR continued the bear moves so observed in the last session and closed below the key support levels.
The currency pair closed around the support of 64.2000 and dragging further will find 64.0000 as next support whereas 64.3000-64.5000 may act as resistance range.



EURINR found strong support around lower levels and gained momentum during the session.
The currency pair showed strong pull back from the psychological level of 70.0000 and if this positive move continue then 71.0000 is marked as resistance.



GBPINR recovered from the two day losses and closed in green territory.
If the pair sustains above the mark of 83.0000 then it may lead further towards the resistance of 83.5000 whereas 82.7000 will continue to mark as support.



JPYINR continued its bear trend and closed around the support zone on daily chart.
If it surpasses the strong support of 56.5000 then selling pressure may get enhanced whereas 57.0000 will continue to act as important resistance.


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