Dollar/Rupee June Future
Dollar/rupee ended up for
second day on Tuesday on dollar demand from oil importers amid weak local
stocks, while the dollar index snapped four-day losses Wednesday on caution
ahead of Brexit referendum.
Technical, A bearish harami
candle stick has been noted on the EOD chart which is indicating for bearish in
USDINR, and any rise towards 67.75-64.80 could attract short term selling
activities. On the other hand, immediate resistance is seen at 67.90
and pair would need to trade above 67.90 in order to test 68.00-68.35 levels.
EUR/INR June Future
Euro traded up for the
third straight session Tuesday as dollar fell to fresh six-week low on easing
worries over possible exit of United Kingdom from the European Union in
referendum set for Jun 23.
EURINR retraced from the
day high 76.7325 and settled at 76.56 levels. A inverted hammer candle stick
formation on EOD chart is indicating for trend reversal in the EURINR. On the
other hand, strong resistance is seen at 77.10 on closing basis and pair would
need to trade above these levels in order to test 77.55-78.00.
Strategy sell EURINR around
76.50-76.60 Target 76.20-74.90 .Stop loss above 76.75.
GBP/INR June Future
Pound traded at seven-week
high Monday as fear of UK leaving membership of the European Union eased after
latest polls showed campaigning for UK to remain in the EU strengthening ahead
of June 23 referendum.
GBPINR extended its recent
gain and up nearly 0.95%. On the daily chart, constructing triangle
pattern, however it yet not completed but momentum upside move expect to
continued towards immediate resistance of 99.50 before next any downside
move. On the downside, fresh sell expect below 98.20
Fresh buy expect above
99.50 Target 100.00/101.50. Stop loss below 99.25
Else, short term corretion
may take place with stop loss above 99.50. Target 99.00-98.50.
JPY/INR June Future
Yen snapped seven-day
losses Tuesday on waning fears of United Kingdom's exit from the European Union
which lowered the safe-haven demand for yen.
JPYINR consolidated around
64.60-64.85 levels and settled at 64.54, up 0.20%. However, pair remained below
the strong resistance of 64.95. Hence, in near term any rise towards
64.75-64.80 is expected to attract huge selling pressure unless it gives a
closing.
On the upside, strong
resistance is seen at 64.95 which coincide with previous swing high and further
upside move will expect to come above these levels only.
Major Economic
Data & Events Schedule today
|
Time
|
Currency
|
Economic
Indicators
|
Forecast
|
Previous
|
Possible
Impact
|
|
12:00am
|
USD
|
FOMC
Member Powell Speaks
|
-
|
-
|
-
|
|
Tentative
|
EUR
|
German
30-y Bond Auction
|
-
|
0.88|1.4
|
-
|
|
6:30pm
|
CNY
|
CB
Leading Index m/m
|
-
|
0.10%
|
-
|
|
USD
|
HPI
m/m
|
0.60%
|
0.70%
|
Negative
|
|
|
7:30pm
|
EUR
|
Consumer
Confidence
|
-7
|
-7
|
Neutral
|
|
USD
|
Fed
Chair Yellen Testifies
|
-
|
-
|
-
|
|
|
USD
|
Existing
Home Sales
|
5.53M
|
5.45M
|
Positive
|
