Indian rupee recovering from the early losses ended slightly higher against the American currency on Wednesday on the back of dollar sales by exporters and bank. Sentiments got some support with the private report that economic activity in the country lost some pace amid GST related disruptions but underlying growth momentum remains strong and the country may clock 6.7 percent growth this fiscal. The rupee sentiment was also aided by dollar’s weakness against other currencies. Though, the rupee’s gains were restricted as the domestic equities remained weak. On the global front, dollar slipped against yen on Wednesday, pushing back towards last week’s 4-1/2-month low on worries over North Korea’s nuclear ambitions and on comments from a Federal Reserve official about subdued US inflation.
USDINR
USDINR unable to breach its resistance level of 64.35 and crashed vertically and made low of 64.15.
Now what to expect??
Below 64.15 panic remain continue till 64.00—63.80 and then to 64.50.
Hurdle intact at 64.35—64.40++
GBPINR
Support at 83.50, Below 83.50 panic remain continue till 83.10—82.80 and then to 82.50 mark.
Hurdle at 84.00
EURINR
Support at 76.50 and Resistance at 76.90
Break and sustain below 76.50 will take it to 76.10—75.80 mark else could touch its resistance level of 76.90
Fresh buying can be initiated above 76.90.
JPYINR
Support at 58.70 and Resistance at 59.10
Break and sustain below 58.70 will take it to 58.30—58.10 mark else could touch its resistance level of 59.10
Fresh buying can be initiated above 59.10
Trade with levels only.
More will update soon!!
