Market Outlook

The Indian rupee on Wednesday closed marginally lower against US dollar tracking losses in the local equity and Asian currencies markets.The rupee opened at 64.07 and touched a high and a low of 64.07 and 64.18 respectively.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.08, down 0.19%, from its previous close of 93.257.

Fundamental News

•    Switzerland ZEW Survey – Expectations climbed from previous 40.7 to 52  in  December.
•    Spain Retail Sales (YoY) came in at 2%, above expectations (0.6%) in November.
•    United States Dallas Fed Manufacturing Business Index came in at 29.7,  above expectations (20) in  December.

USDINR

USDINR pair started the day with bullish note and closed near to its days high. Now, 64.5000 is important resistance if it holds above this mark then bullish movement can be seen where as 64.2000 is crucial support level below this correction  may be expected.

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EURINR

EURINR pair opened with gap up and followed its upward journey, closed the day with positive note. For upcoming session if it manages to hold above 77.0000 then more upside movement may be witness. On southern side it has 76.5000 as crucial support zone.

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GBPINR

GBPINR pair has given good bounce back for its support level and closed the day with good gain. This pair has important resistance level of 86.8000 if it holds above this mark then more upside movement can seen whereas 86.0000 is crucial support.

3

JPYINR

JPYINR pair started the day with positive bias and manages its higher level, settled the day with some gain.
It has important resistance level of 57.1000 if it manages to hold this mark then more upside movement may be witness. On southern side it has 56.8000 as crucial support zone.

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