Rupee ends little change against dollar on Monday
Indian rupee ended marginally weaker against the US dollar on Monday, following fresh demand for the US currency from banks and importers to meet the month end dollar demand. Traders maintained cautious approach ahead of the Reserve Bank of India's bi-monthly policy on August 02. However, the dollar’s slide overseas amid concerns over renewed show of strength on the Korean Peninsula and a strong domestic equity market restricted the rupee's losses. On the global front, dollar held near a 13-month low against a basket of currencies on Monday, weighed down by political uncertainty and increased short positions, but markets were wary of pushing it lower before data due later this week.
USDINR
Support at 64.30 and Resistance at 64.60
Break and sustain below 64.30 will take it to 64.10—63.90 and then to 63.70 mark else could touch its resistance level of 64.60 again.
Fresh buying can be initiated above 64.60
GBPINR
Yesterday we clearly indicated looks positive above 84.50 just made high of 85.10
Now what to expect??
Break and sustain above 85.10 will take it to 85.40—85.60 ++ mark.
Support intact at 84.70
EURINR
Support at 75.70 Resistance at 76.20
Break and sustain above 76.20 will take it to 76.50—76.80++ mark else could touch its support level of 75.70 mark.
Fresh selling can be initiated below 75.70
JPYINR
Support at 58.10 and Resistance at 58.50
Close above 58.50 will take it to 58.70—58.90++ mark else could touch its support level of 58.10 mark
Fresh selling can be initiated below 58.10
More will update soon!!
