Currency Report 25th October 2017
Erasing all the gains, Indian rupee ended marginally lower against dollar on Tuesday, on mild demand of dollar by banks and importers. Traders overlooked SBI’s report that the government is likely to achieve its fiscal deficit target of 3.2 percent this financial year as the budgeted disinvestment receipts are on track to realise Rs 72,500 crore. However, weakening of dollar against other currencies overseas limited the rupee's losses.
On the global front, the US dollar held largely steady against major rivals Tuesday, with the euro not finding much action after figures indicated eurozone economic growth slowed slightly this month.
USDINR
Support at 64.90 and Resistance at 65.20
Above 65.20 rally remain continue till 65.35—65.50 and then to 65.80++ else could touch its support level of 64.90.
Fresh selling can be initiated below 64.90
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 76.70
Break and sustain above 76.70 will take it to 77.00—77.10++ 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 57.40
Trading in range either side breakout with volumes will decide further.
More will update soon!!!
