Rupee ends slightly higher against dollar
Continuing its rising streak for the second straight day, Indian rupee ended slightly higher against dollar on Tuesday due to sustained selling of the US currency by exporters and banks. Local currency got some support with private survey stating that Indian CEOs are confident about the growth prospects of the country over the next three years, compared to that of global economy. Besides, dollar’s weakness against some currencies overseas supported the rupee, though heavy losses in the equity market capped the further gain. On the global front, dollar sank on Tuesday as two Republican senators rejected their party’s bill repealing Obamacare, effectively killing it and throwing Donald Trump’s economic agenda into doubt.
USDINR July
Support at 64.30 and Resistance at 64.60
Trading in range either side breakout will decide further.
GBPINR
Support at 83.85 and Resistance at 84.20
Break and sustain below 83.85 will take it to 83.60—83.40 and then to 83.10 mark else could touch its resistance level of 84.20 mark.
Fresh buying can be initiated above 84.20
EURINR
Support at 74.15 and Resistance at 74.50
Looks positive and could touch its resistance level of 74.50,Break and sustain above 74.50 will see more upside rally in it, else could touch its support level of 74.15.
Fresh selling can be initiated 74.15
JPYINR
Above 57.50 rally remain continue till 57.80—58.00++ mark else could touch its support level of 57.30
Fresh selling can be initiated below 57.30
More will update soon!!
