The Rupee on Thursday strengthened against the US dollar as traders feel the minutes of the Federal Reserve meeting hinted that policy makers still have a bias to raise rates.
Rupee rose in the latter half of the session primarily on back of gains in domestic equities and as FIIs poured in funds after remaining on the sell side for last few sessions. Rally in global crude oil prices, stronger dollar and widening trade deficit is expected to keep the rupee under pressure.
- Dollar inches up after Fed minutes, Aussie felled by rates and coal woes.
- Euro, euro zone yields rise on French PMI surprise.
- Stronger German services growth masks deepening downturn in manufacturing.
- French private sector output stabilizes in February.
USDINR after negative opening found support and showed correction closed with gain.
Currency pair unable to sustain below 71.0000 mark, gives strength to it and shows some positive movements towards resistance of 71.8000.
EURINR after correction found support showed bullish movements closed with positive note.
81.0000 is seen as immediate resistance zone for the currency pair sustaining above this level it may give more positive movements.
GBPINR showed positive movements throughout the session closed with bullish bias.
If able to sustain on higher level in upcoming session then 93.5000 is act as strong resistance level for it above which it is more bullish.
JPYINR opened with negative bias showed sideways to bullish movements closed with partial gain.
On higher levels 64.5000 is act as strong resistance zone for particular currency pair sustaining below this mark it may continue bearish rally.
(Click to submit your details) Just one step to get best trading tips and Recommendation.