The rupee firmed up 16 paise to trade at 63.70 against the dollar in the opening session on Friday, rising for a third straight day on increased selling of the US currency by exporters and banks. A higher opening in the domestic equity market also influenced the rupee uptrend, they added. On Thursday, the rupee had gained 2 paise to close at 63.86 against the American currency. Forex dealers said the dollar was weak against other currencies overseas which supported the rupee.
- United Kingdom Retail Sales ex-Fuel (YoY) below forecasts (3%) in December: Actual (1.3%).
- European Monetary Union Current Account n.s.a increased to €37.8B in November from previous €35.9B.
- Switzerland Producer and Import Prices (YoY) registered at 1.8%, below expectations (2.1%) in December.
USDINR pair has given recovery of price from its lower level and closed near to its day high. Now, 64.2000 is major resistance level if it manage to hold above this mark then more upside movement can be seen where as 63.6000 is support level.
EURINR pair followed its northward journey and hover near to its resistance level, closed the session with gain. This pair has immediate resistance of 78.5000 above this it may continue its upside movement towards next resistance level. On downward side 77.8000 is support level.
GBPINR pair continue its upside movement and closed the session with good gain. Now, 89.0000 is acting as a psychological resistance level above this more northward movement can be seen, 88.4000 is major support level.
JPYINR pair was bounce back from its lower level and closed the day with positive note. It has major resistance of 58.0000 above this it can continue its upward journey towards next resistance level. On downward side 57.2000 is support level.
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