11/4/2018

Currency Report 11th April 2018

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On Tuesday, the Rupee ended marginally higher to end at 64.99 against US Dollar showing a modest gain of 3 paise due to easing US-China trade war fears in market and demand of Dollars by importers and banks. Market players took some support with Mr. Suresh Prabhu statement (Commerce and Industry Minister) expressed hopes that India can benefit from the ongoing challenges in global trade they also added that government is taking steps to boost exports, manufacturing activities and industrial growth. However, traders were remained cautious due to economic data that is February IIP and March CPI data, is to be scheduled on 12th April.

In the International Market, American Currency rose against yen after Chinese President Xi Jinping’s promise to cut import tariffs eased concerns about a trade conflict.   




USDINR 



Support at 64.90 and Resistance at 65.20


Above 65.20 rally will likely to continue till 65.40-64.50 else could touch its support level of 64.90


Fresh selling can be initiated below 64.90




GBPINR



Support at 92.20 and Resistance at 92.50


Above 92.40 rally likely to continue till 92.70—92.80 else could touch its support level of 92.20


Fresh selling can be initiated below 92.20



EURINR


Support at 80.30 and Resistance at 80.60


Above 80.60 rally likely to continue till 80.90—81.00 else could touch its support level of 80.30


Fresh selling can be initiated below 80.30




  JPYINR


Support at 60.70 and Resistance at 61.00


Above 61.00 rally likely to continue till 61.30—61.45 else could touch its support level of 60.70


Fresh selling can be initiated below 60.70





EURUSD



Support at 1.2340 and Resistance at 1.2386


Above 1.2386 rally likely to continue till 1.2410—1.2430 else could touch its support level of 1.2354


Fresh selling can be initiated below 1.2340





GBPUSD


Support at 1.4170 and Resistance at 1.4200


Above 1.4200 rally likely to continue till 1.4230—1.4240 else could touch its support level of 1.4170


 Fresh selling can be initiated below 1.4170





USDJPY


Support at 106.90 and Resistance at 107.30


Trading in range either side breakout will decide further


Trade with levels only.




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