USDINR June Future
Dollar fell as market sentiments for safe-haven currency
plunged over ongoing concerns about the referendum on whether Britain will
remain in the European Union.
Technical, after witnessed a gap up opening at 67.7050
compare to previous close of 67.1725, USDINR retraced towards 67.3550 and
settled at 67.3975 levels. Near
term 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.
Else, any rise towards 67.65-67.75 is expect to
attract short term selling activities for the target 67.35-67.20.
EUR-INR June Future
Euro traded near its one-week high Monday as safe-haven
appeal for euro increased after the recent opinion polls on the European Union
referendum pointed out that UK might vote to 'Remain' in the European Union.
EURINR witnessed more than 1.50% gain in morning trade
and retraced towards 76.3625 levels. Short term trend expects to remain
volatile ahead of EU referendum. 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.
Else, any rise towards 76.80-76.90 is expect to attract
huge selling pressure for the target 76.20-75.80 and below.
GBP-INR June Future
Pound traded near three-week high against the greenback
Monday as worries eased that Britain might vote to leave the European
Union. The poll gave boost
to Prime Minister David Cameron who is battling to avoid 'Brexit' in Thursday's
referendum. Two new polls
suggest that support has swung back toward remaining in the European Union, as
campaigning resumed Sunday after last week's slaying of British lawmaker Jo
Cox.
GBPINR witnessed more than 2.80% recovery yesterday and
after hitting a high of 98.97 settled at 98.67 levels. 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
Buy above 98.98 Target 99.30-99.55. Stop loss below 98.85
(CMP 98.8825)
JPY-INR June Future
Yen settled almost flat on Monday as safe-haven bets for
yen plunged on waning fears of United Kingdom's exit from the European Union.
JPYINR consolidated around 64.50-64.60 levels and settled
at 64.41, almost flat. On the EOD chart formation of high wave candle stick is
indicating for trend reversal may take place very soon. 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.
Buy above 64.98 Target 65.35-65.55. Stop loss below
64.85.
Or Risky traders may sell with stop loss above 64.96
Target 64.55-64.30.
Major Economic Data & Events Schedule today
|
Time
|
Currency
|
Economic Indicators
|
Forecast
|
Previous
|
Possible Impact
|
|
5:20am
|
JPY
|
Monetary Policy Meeting Minutes
|
-
|
-
|
-
|
|
10:00am
|
JPY
|
All Industries Activity m/m
|
1.30%
|
0.10%
|
Positive
|
|
Tentative
|
EUR
|
German Constitutional Court
Ruling
|
-
|
-
|
-
|
|
2:00pm
|
GBP
|
Public Sector Net Borrowing
|
9.5B
|
6.6B
|
Positive
|
|
2:30pm
|
EUR
|
German ZEW Economic Sentiment
|
5.1
|
6.4
|
Negative
|
|
EUR
|
ZEW Economic Sentiment
|
15.3
|
16.8
|
Negative
|
|
|
3:30pm
|
GBP
|
CBI Industrial Order Expectations
|
-10
|
-8
|
Negative
|
|
6:30pm
|
EUR
|
ECB President Draghi Speaks
|
-
|
-
|
-
|
|
7:30pm
|
USD
|
Fed Chair Yellen Testifies
|
-
|
-
|
-
|
