Rupee ends slightly higher against dollar, now eyes on ECB meet today.
Continuing its rising streak for the third straight day, Indian rupee ended slightly higher against dollar on Tuesday due to sustained selling of the US currency by exporters and banks. On the global front, the dollar traded near its multi- month lows against a currency basket in the wake of a steep sell-off sparked by fears that US President Donald Trump is having difficulties implementing his policy agenda. The dollar index which is trading around 94.7, noted down by 0.38% from its previous close of $95.12. The 10-year bond yield was at 6.456%, compared to its previous close of 6.464%. Traders are cautious ahead of Thursday’s European Central Bank policy meeting and next week’s US Federal Reserve meeting.
USDINR July
Support at 64.30 and Resistance at 64.60
Trading in range either side breakout will decide further.
GBPINR
Support at 83.70 and Resistance at 84.10
Break and sustain below 83.70 will take it to 83.45—83.20 and then to 83.00 mark else could touch its resistance level of 84.10 mark.
Fresh buying can be initiated above 84.10
EURINR
Support at 74.00 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 74.00.
Fresh selling can be initiated 74.00.
Trade with levels only.
JPYINR
Support is at 57.20 and Resistance is at 57.55.
Above 57.55 rally remain continue till 57.80—58.00++ mark else could touch its support level of 57.20
Fresh selling can be initiated below 57.20
Trade with levels only.
More will update soon!!
