Rupee ends marginally higher against dollar
In line with equity markets, the Indian rupee ended marginally higher against US dollar on Thursday as exporters and banks stepped up selling of the American currency. Sentiments also got some support with a private research enlightening that the implementation of the new Insolvency and Bankruptcy Code is expected to give a big push to credit growth as international experience shows that laws to resolves bad assets have helped boost credit growth. Besides, some gains in the domestic equities and continuous foreign capital inflows too supported the domestic unit. On the global front, dollar edged higher against yen on Thursday, paring some of the losses it suffered after US President Donald Trump suggested a shutdown of the government was possible and threatened to terminate the North American Free Trade Agreement.
USDINR
Support at 63.80 and Resistance at 64.00
Break and sustain below 63.80 will take it to 63.50—63.30 mark, else could touch its resistance level of 64.00
Fresh buying can be initiated above 64.00
GBPINR
Support at 81.80 and Resistance at 82.30
Above 82.30 rally remain continue till 82.60—82.80 and then to 83.10++ mark else could touch its support level of 81.80 mark.
Fresh selling can be initiated below 81.80 mark.
EURINR
Support at 75.65 and Resistance at 76.25
Break and sustain above 76.25 will see sharp upside rally till 76.90—77.10++ mark else could touch its support level of 75.65 again.
Fresh selling can be initiated below 75.65 mark.
JPYINR
Support at 58.50 and Resistance at 58.75
Break and sustain below 58.50 will take it to 58.30—58.10 and then to 57.80 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!!
