Currency Report 5th April 2018
On Wednesday, Indian rupee turned weak to 65.18 as domestic equities plunged on rising US-China trade war fears on sustained buying of the US Currency by importers and exporters.
Investors also stayed on the sidelines ahead of the RBI monetary policy announcement on Thursday. The RBI is likely to hold the policy repo rate in its first bi-monthly monetary policy review for FY 2019 on April 5.
The domestic unit opened by 4 paise at 64.97 at the inter bank foreign exchange market today.
In the International market, the dollar fell 0.1 per cent to 106.50 yen, giving back some of the gains made on Tuesday, when it rose 0.6 per cent against the Japanese currency.
Support at 65.00 and Resistance at 65.30
Trading in range either side break and close will set further trend in it
Support at 91.50 and Resistance at 92.00
Trading in range either side breakout will decide further
Support at 80.00 and Resistance at 80.30
Below 80.00 panic likely to continue till 79.70—79.55 else could touch its resistance level of 80.30
Fresh buying can be initiated above 80.30
Support at 60.90 and Resistance at 61.30
Below 60.90 panic likely to continue till 60.50—60.20 else could touch its resistance level of 61.30
Fresh buying can be initiated above 61.30