Currency Report 9th April 2018
On Friday the rupee surrendered its initial gains and ended flat at 64.97 against the American Currency due to fresh demand of dollar from banks and importers. The rupee opened slightly higher at 64.92 against the US dollar from its overnight close of 64.97 at the inter-bank foreign exchange (forex) market amid positive sentiment surrounding the market following RBI’s positive outlook on growth-inflation dynamics.
In the International market, Dollar flattered on Friday after US President Donald Trump threatened $100 billion in additional tariffs on China.
Support at 64.90 and Resistance at 65.20
Below 64.90 panic will likely to continue till 64.60---64.40 else could touch its resistance level of 65.20 again
Fresh buying can be initiated above 65.20
Support at 91.50 and Resistance at 91.70
Above 91.70 rally likely to continue till 91.90—92.00 else could touch its support level of 91.50
Fresh selling can be initiated below 91.50
Support at 79.70 and Resistance at 79.90
Trading in range either side movement will decide further
Support at 60.60 and Resistance at 60.90
Above 60.90 rally likely to continue till 61.20—61.30 else could touch its support level of 60.60
Fresh selling can be initiated below 60.60