02/12/2019

Currency Levels (2nd December 2019)

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Rupee opened on a flat note against the US Dollar in the early morning due to growth concerns after GDP fell to 4.5% in the second quarter of 2020. China’s positive manufacturing data supported the prices of Crude, which is also weighing down on Domestic currency. The 10-year Indian government bond yield was at 6.47 percent.



 Technical outlook: (December 2019)


JPYINR

Support is 65.60 Resistance is 65.90.

Break and sustain above 65.90 will take it to 66.20---66.50 mark else could touch its resistance level of 65.60 mark.

Fresh selling can be done only on a close below 65.60.

Trade with levels only



Dollar Index

Dollar index has its support at 98.20 and resistance is seen at 98.60.

Break and sustain above 98.60 will take it to 99.00---99.40 levels or else it can touch its support level of 98.20 again.

Buy it on dip!




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