Currency Report 30th JAN 2018
Indian rupee ended marginally lower against US dollar on Monday, due to fresh demand for the American currency from banks and importers. Sentiments remained subdued with the private report stating that India’s factory output growth in December 2017 is projected to come down to 5.5-6%, from a 17-month high of 8.4% in November last year. Moreover, the domestic currency was also weighed down by dollar's strengthen against some other currencies overseas. However, losses were limited as some support came after the economic survey released earlier in the day projected economic growth would be 7.0-7.5% in the year starting in April, up from a projected 6.75% for the current fiscal year.
On the global front, dollar edged higher against a basket of currencies on Monday, helped by rising bond yields and a week packed with US data starting with a central bank policy decision, though the broader outlook remained murky for the greenback.
USDINR
Support at 63.70 and Resistance at 63.90
Above 63.90 Rally likely to continue till 64.10—64.20 else could touch its support level of 63.70
Fresh selling can be initiated below 63.70
Trade with levels only.
GBPINR
Support at 89.60 and Resistance at 89.90
Below 89.60 panic will remain continue till 89.40—89.30 else could touch its resistance level of 89.90
Fresh buying can be initiated above 89.90
EURINR
Support at 79.00 and Resistance at 79.20
Above 79.20 rally remain continue till 79.35—79.50 else could touch its support level of 79.00
Fresh selling can be initiated below 79.00
JPYINR
Support at 58.60 and Resistance at 58.80
Above 58.80 rally remain continue till 58.95—60.10 else could touch its support level of 58.60
Fresh selling can be initiated below 58.60
More will update soon !!
