13/4/2018

Currency Report 13th April 2018

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On Thursday, Indian rupee ended marginally higher against American currency pared all of its initial losses due to sale of US Dollar by importers and corporate. Market players took some support with the report that declared that India has jumped 13 places in the last one year to earn 130th spot in the latest annual Index of Economic Freedom Released by a top American think tank. The index of consumer price inflation in India stood at 4.28 percent in March, slowing for the third straight month from a 17-month high, according to data released by the Central Statistics Office. 

In the international market, On Thursday dollar remained weaker against a basket of currencies due to investors cautious over possible western military action against Syria, While the Euro was stable before minutes of the ECB’S March meeting.




USDINR 



Support at 65.20 and Resistance at 65.50


Above 65.50 rally will likely to continue till 65.80---66.00 else could touch its support level of 65.20


Fresh selling can be initiated below 65.20




GBPINR



Support at 92.70 and Resistance at 93.10


Above 93.10 rally likely to continue till 93.40—93.50 else could touch its support level of 92.70


Fresh selling can be initiated below 92.70




EURINR



Support at 80.60 and Resistance at 80.80


Below 80.60 panic likely to continue till 80.40—81.30 else could touch its resistance level of 80.80


Fresh buying can be initiated above 80.80




    JPYINR



Support at 61.00 and Resistance at 60.80


Below 60.80 panic likely to continue till 60.60—60.50 else could touch its resistance level of 61.00


Fresh buying can be initiated above 61.00





EURUSD



Support at 1.2310 and Resistance at 1.2340


Above 1.2340 rally likely to continue till 1.2360—1.2480 else could touch its support level of 1.2310


Fresh selling can be initiated below 1.2310




GBPUSD




Support at 1.4190 and Resistance at 1.4240


Above 1.4240 rally likely to continue till 1.4270—1.4280 else could touch its support level of 1.4190


Fresh selling can be initiated below 1.4190





USDJPY




Support at 107.00 and Resistance at 107.40


Above 107.40 panic likely to continue till 107.80—108.00 else could touch its support level of 107.00


Fresh selling can be initiated below 107.00


Trade with levels only.



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