The Indian Rupee weakened by 8 paise to open at 69.0600 and swing in range around 69.1925 and 68.7925 against the US dollar on sustained capital outflows amid strengthening of the American currency overseas. The other factors which also weighed on the rupee are heavy demand for the dollar from importers and political uncertainity in Germany. On the flip side, the dollar remained broadly supported, meanwhile, as trade tensions propped up the greenback against commodity and currencies.
• United Kingdom 10-y Bond Auction: 1.43% vs previous 1.61%.
• European Monetary Union Retail Sales (MoM) registered at 0%, below expectations 0.1% in May.
• United Kingdom PMI Construction above expectations 52.5 in June: Actual 53.1.
USDINR unable to sustain on higher levels showed negative movements closed with loss.
Closing below its psychological level of 69.0000 suggesting more correction in currency pair towards 68.5000 level. On higher side 69.3000 is resistance for it.
EURINR after correction from higher levels closed with partial loss.
Found support on lower levels and form reversal pattern around its resistance suggesting to continue positive movements towards 80.8000 level.
GBPINR showed sideways movements trades in tight range closed with flat note.
Currency pair found strong resistance around 91.0000 level if open above it then continue bullish movements towards 91.3000. On lower levels 90.6000 is immediate support for it.
JPYINR unable to sustain on higher levels showed correction closed with negative bias.
If sustain above its support level of 62.0000 then continue bullish movements and find resistance around 62.6000. Contrary drag towards 61.8000 levels.
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