Rupee ends marginally higher against dollar
Indian rupee ended marginally higher against the American currency on Tuesday on continued dollar selling by banks and exporter. Though, trades were thin as public sectors banks were on strike. Investors took some support with report that Foreign Direct Investment (FDI) into the country grew by 37% to $10.4 billion during the first quarter of the current fiscal. According to DIPP, India had received $7.59 billion FDI during April-June 2016-17. The domestic unit also found some support from dollar weakened overseas along with gains in the local equity markets. On the global front, dollar pushed higher against a basket of the other major currencies on Tuesday as investors awaited the annual gathering of central bankers in Jackson Hole later this week for clues on how policymakers view the economy.
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
Below 82.40 panic remain continue till 82.00—81.80 and then to 81.50 mark, else could touch its resistance level of 82.70.
Fresh buying can be initiated above 82.70
EURINR
Support at 75.15 and Resistance at 75.75
Break and sustain below 75.15 will take it to 74.80—74.50 and then to 74.10 mark else could touch its resistance level of 75.75 again.
Fresh buying can be initiated above 75.75 only.
JPYINR
Support at 58.50 and Resistance at 58.75
Break and sustain below 58.50 will take it to 58.25—58.10 mark else could touch its resistance level of 58.75
Fresh buying can be initiated above 58.75
Trade with levels only.
More will update soon!!
