The rupee on Wednesday opened 17 paise higher at 64.15 against the dollar, riding on the back of comforting macro data points. The dollar hit a 15-month low against the yen and fell versus the euro for the fourth consecutive day on Wednesday with investors nervous ahead of key U.S. inflation numbers due later amid a fragile recovery in equity markets. The dollar, measured against a basket of currencies, has now given up two-thirds of the gains it notched up this month when investors rushed into the greenback as equity markets suffered a violent sell-off.
- Germany Gross Domestic Product (YoY) above expectations (2.2%) in 4Q: Actual (2.3%).
- Germany Consumer Price Index (MoM) meets forecasts (-0.7%) in January.
- Singapore Gross Domestic Product (QoQ) above expectations (2%) in 4Q: Actual (2.1%).
USDINR pair opened with gap down and selling pressure was dominated throughout the day, closed with loss. It has psychological support of 64.0000 if it sustain below this mark then more down side movement can be seen, whereas 64.5000 is resistance level.
EURINR pair opened with gap up but unable to hold its higher level and drag down, closed near to its day low. This pair has immediate support level of 79.0000 below this level it can continue the down side movement till 78.8000, on higher level 79.6000 is resistance level.
GBPINR pair was pull down from its higher level closed near to its support level. Now, it has major support level of 88.8000 below this mark it can go toward next support level of 88.4000. On higher side it has resistance of 89.30000.
JPYINR pair opened with strong note but unable to hold its higher level and came down closed near to its day low. For upcoming session if it breaks its major support level of 59.5000 then it can move towards next support level of 59.0000. On upper side 60.0000 is resistance level.
(Click to submit your details) Just one step to get best trading tips and Recommendation.