Indian rupee ended marginally higher against dollar on Friday due to sustained selling of the US currency by exporters and banks. Sentiments got support with report that the government gave some relief to taxpayers availing of transitional input tax credit under the Goods and Services Tax (GST) regime by giving them an extra week till 28 August 28 to file tax returns. The domestic unit also found some support from dollar weakened overseas. However, the rupee's gains were restricted as the domestic equities remained weak. On the global front, yen was the major mover among the G10 group of developed world currencies on Friday, gaining another half per cent against the dollar as nerves over stock market valuations and the future of an 8-year global rally seeped into other assets.
USDINR
Support at 64.00 and Resistance at 64.25
Break and sustain below 64.00 will take it to 63.80—63.50 mark, else could touch its resistance level of 64.25.
Fresh buying can be initiated above 64.25
GBPINR
Support at 82.65 and Resistance at 83.10
Below 82.65 panic remain continue till 82.30—82.10 and then to 81.80 mark, else could touch its resistance level of 83.10.
Fresh buying can be initiated above 83.10
EURINR
Support at 75.20 and Resistance at 75.65
Break and sustain below 75.20 will take it to 75.00—74.80 and then to 74.30 mark else could touch its resistance level of 75.65 again.
Fresh buying can be initiated above 75.65 only.
JPYINR
Support at 58.50 and Resistance at 59.10
Trend looks positive and could touch its resistance level of 59.10. Above 59.10 rally remain continue till 59.50—59.80 mark else could touch its support level of 58.50 mark.
Fresh selling can be initiated below 58.50
Trade with levels only.
More will update soon!!
