The Rupee plunged by over 8 paisa in early trade and hovered in the range of 68.2475 and 67.5600 against Dollar in an early trade following heavy buying of American currency by banks and importers amid fund outflows from equities. Meanwhile, domestic bourses opened on a cautious note to trade higher ahead of Karnataka election outcome later in the day. The U.S. dollar edged higher, pulling away from more than one week lows as indications that global trade tensions are easing helped push U.S. Treasury yields back above the key 3% level.
• Japan Tertiary Industry Index (MoM) came in at -0.3%, below expectations (-0.2%) in April.
• France Consumer Price Index (EU norm) (MoM) came in at 0.2%, above forecasts (0.1%) in April.
• Germany Gross Domestic Product (QoQ) below expectations (0.4%) in 1Q: Actual (0.3%).
USDINRUSDINR showed strength in second half and closed with positive note.
If able to sustain above 68.0000, than more bullish movements is expected in it towards 68.5000 level. On downward side 67.7000 is strong support.
EURINR open with negative bias showed correction closed with flat note.
If sustain above immediate resistance of 81.3000 than positive strength is seen and may find next resistance around 81.5000. Contrary 80.7000 is act as support mark.
GBPINR found support on lower levels showed positive movements closed with partial gain.
Bullish rally in the currency pair continues if able to sustain above its resistance mark of 92.5000. On lower levels it has strong support near 91.7000.
JPYINR showed strength and closed above its psychological resistance zone.
Immediate support for the currency pair is seen around 61.9000 sustaining above this level shows more bullish movements towards 62.5000.
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