Currency Report 10th April 2018
On Monday Indian Rupee ended marginally lower to close down 5 paise against American Currency due to fresh demand of US Dollar from importers and corporate amid Forex outflows. The domestic currency had risen to a one-month high of 64.85 at the outset on gains in equity markets Market players failed to get relief with the world economic situation. The prospect report of united Nations stated that Indian Economy is projected to grow at 7.2% in 2018-19 and 7.4% in 2019-20. So finally settled the day at 65.02, showing modest loss of 5 paise, or 0.08 per cent.
In the international Market, On Monday American Currency edged higher extended a two-week winning streak and rising stock market signaled a return in risk appetite though investors are still wary about the trades between American and China.
Support at 64.90 and Resistance at 65.20
Below 64.90 panic will likely to continue till 64.60---64.35 else could touch its resistance level of 65.20
Fresh buying can be initiated above 65.20
Support at 91.50 and Resistance at 91.90
Above 91.90 rally likely to continue till 92.30—92.60 else could touch its support level of 91.50
Fresh selling can be initiated below 91.50
Support at 80.00 and Resistance at 80.20
Above 80.20 rally likely to continue till 80.40—80.50 else could touch its support level of 80.00
Fresh selling can be initiated below 80.00
Support at 60.60 and Resistance at 60.80
Above 60.80 rally likely to continue till 61.10---61.25 else could touch its support level of 60.60
Fresh selling can be initiated below 60.60