Currency Report 24th October 2017
Indian rupee ended marginally higher against dollar on Monday on fresh selling of the American currency by banks and exporters. Sentiments got some support with the private report stating that the Indian economy is expected to see a rebound in the July-September quarter of this year with a GVA growth rate of 6.3 percent. The domestic unit also found support from gains in local equity markets. However, the rupee gains were, to some extent, capped due to strengthening in dollar against some other currencies overseas.
On the global front, dollar touched a three-month high against yen on Monday, with investors betting that an emphatic election victory for Japan's ruling party would see a continuation of the ultra-loose ‘Abenomics’ policy that have kept downward pressure on the yen.
USDINR
Support at 64.90 and Resistance at 65.20
Below 64.90 panic remain continue till 64.75—65.60 else could touch its support level of 65.20.
Fresh buying can be initiated above 65.20
Trade with levels only.
GBPINR
Support at 85.50 and Resistance 86.10
Trading in range either side breakout with volumes will decide further.
EURINR
Support at 76.40—76.30 and Resistance at 76.50
Break and sustain above 76.50 will take it to 76.80—77.00 mark else could touch its support level of 76.40—76.30
Fresh selling can be initiated below 76.30
JPYINR
Support at 57.10 and Resistance at 57.50
Break and sustain below 57.10 will take it to 56.80—56.50 mark else could touch its resistance level of 57.50.
Fresh buying can be initiated above 57.50
More will update soon!!!
