Rupee ends unchanged against dollar on Friday
Indian rupee ended flat against US dollar on Friday, even as wholesale price index based inflation eased to 0.9 percent in June from 2.17 percent in May, on account of easing manufactured products and fuel prices. Besides, weak trade in domestic equity market too kept pressure on the local currency. Meanwhile, investors remained on sidelines ahead of high-profile meeting chaired by Prime Minister Narendra Modi to review the country’s foreign direct investment policy, where further easing of restrictions may also be discussed. On the global front, the dollar struggled for direction on Friday, ahead of a set of closely watched inflation data that analysts say could help determine the next policy move from the Federal Reserve.
USDINR July
Support at 64.30 and Resistance at 64.60
Trading in range either side breakout will decide further.
GBPINR
Support at 84.00 and Resistance at 84.65
Break and sustain above 84.65 will take it to 85.00—85.10++ mark else could touch its resistance level of 84.00
Fresh selling can be initiated below 84.00 mark.
EURINR
Support at 73.60 and Resistance at 74.00
Break and sustain above 74.00 will take it to 74.40—74.80 else could touch its support level of 73.60.
Fresh selling can be initiated below 73.60
JPYINR
Support at 56.80 and Resistance at 57.20
Above 57.20 rally remain continue till 57.50—57.80 ++ mark else could touch its support level of 56.80.
Fresh selling can be initiated below 56.80
More will update soon!!
