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Home » Domestic woes weighing down on Rupee. Major Currency pairs technical levels.
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Domestic woes weighing down on Rupee. Major Currency pairs technical levels.

Rupee

 

The rising number of Coronavirus cases and the death toll having been crossed 4000 mark is creating panic among the market participants. Migrant citizens are returning to their villages, which is likely to grow the number of cases rapidly in the village areas too. In addition to that, India’s retail trade has lost business up to the amount of 9 lacs crore in the last two months, which is also a major concern for the economy, resulting in a downfall in Rupee.

 

Technical outlook of Rupee and other Major Currency pair (June 2020)

 

Dollar Index

As per the levels given in our previous update, DX almost achieved its second target of 98.80.

Dollar index bounced back sharply from its major support level of 98.80. The immediate resistance is seen at 99.30.
Break and sustain below 98.80 will take it to 98.40—98.00 levels or else it can touch its resistance level of 99.30 again.

We can go for fresh buying only on a close above 99.30.

Trade with levels only.

 

JPYINR

Support is 70.30 Resistance is 70.70.

Break and sustain above 70.70 will take it to 71.00—71.30 levels or it will come down to touch its support level of 70.30.

Buy it on dips!

Trade with levels only.

 

EURINR

Support 82.50 Resistance is 83.20

Break and sustain above 83.20 will take it to 83.80—84.30 levels else could touch its support level of 82.50 mark.

If it will manage to break and give a close below 82.50, we can go for fresh selling.

Trade with levels only.

 

USDINR

Support is 75.80 Resistance is 76.20.

Break and sustain above 76.20 will take it to 76.60—77.00 levels else could touch its support level of 75.80 levels.

Buy on dips!

Trade with levels only.

 

GBPINR

Support is 92.70 Resistance is 93.60.

Break and sustain above 93.60 will take it to 94.40—95.10 levels else could touch its support level of 92.70 again.

We can go for buying on dips!

Trade with levels only.

 

EURUSD

It has major support at 1.0930 and resistance is 1.1000.

Break and sustain above 1.1000 will take it to 1.1060—1.1110 levels or else it can touch its support level of 1.0930 again.

Buy it on dips!

Trade with levels only.

 

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