The rupee declined by 9 paise to open at 69.9825 against the US currency, weighed down by a strong dollar sentiment and high demand for the greenback from importers. The domestic currency dropped to more than four-month low of 70.1100 in the day trade in line with losses in other Asian currencies against the dollar after positive US economic data. On flip side, the dollar has come off Wednesday’s highs in early trade, but is still well bid on the back of news flow suggesting the U.S. economy remains a pillar of relative strength.
- Dollar Surges to New High on Dovish BoJ, BoC Outlooks
- Riksbank Sends Krona Plunging With Delayed Rate-Hike Plans
- Indonesia: Rates unchanged but cautious stance by Bank Indonesia
- The Bank of Japan kept policy unchanged at a review on Thursday but pledged to keep interest rates very low at least until early 2020.
USDINR after correction found support on lower levels closed with positive bias. If continue bullish movements in upcoming session then 71.0000 is act as strong resistance zone for the currency pair above which it may shows more positive rally.
EURINR opened with negative bias showed correction and closed with loss. On higher levels if able to sustain above 79.0000 mark then it may continue bullish movements otherwise drag towards support of 78.2000.
GBPINR found support on lower levels showed correction closed with flat note. Now, 91.3000 is act as strong resistance zone for the currency pair only above this mark it may continue positive movements and find next resistance near 91.5000.
JPYINR after correction unable to sustain on lower levels showed positive movements closed with gain. Currency pair may show some correction towards its immediate support of 62.9000 below which it is more bearish. On upward side 63.5000 is strong resistance for it.
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