In early trade, against the US dollar, rupee opened weakened by 7 paise to a fresh 15-month low of 67.4900, made a high of 67.3525 and a low of 67.5700, due to strengthening of the American currency overseas, sustained foreign fund outflows and soaring global crude prices. However, in early trade of session, strong domestic equity market capped the rupee’s losses. The dollar edged lower against a currency basket, to hover just below four-and-a-half month highs on account of interest rate differentials continued to drive strength in the U.S. currency.
• United Kingdom Industrial Production (MoM) registered at 0.1%, below expectations (0.2%) in March.
• Italy Industrial Output s.a. (MoM) registered at 1.2% above expectations (0.4%) in March
• South Korea Money Supply Growth up to 7% in March from previous 6.8%
USDINR Currencies vs $ USDINRUSDINR unable to sustain on higher levels drag down and closed with partial gain.
If able to sustain above 67.5000, than it may continue positive movements and find next resistance around 67.7000. On lower levels 67.2000 is support mark.
EURINR after correction found support on lower levels closed around its day high.
Currency pair trades around its resistance level if sustain above it than more positive movements seen in it. Whereas on lower side 80.0000 is strong support.
GBPINR GBPINR showed volatile session on account of bank rate closed with negative bias.
Immediate support for the currency is seen around 91.0000 below which it is more bearish and may find next support near 90.7000.
JPYINR JPYINR showed correction correction in last hour of trading closed with flat note.
Now, if able to sustain above 61.6000 resistance level than it may shows bullish movements and may find resistance around 62.0000 level.
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