IIFL has come out with its technical & fundamental view on currencies. According to the research firm, USDINR Spot prices have support at 54.65 and resistance at 54.95.
Technical View USD-INR SPOT RATE- Prices have support at 54.65 and resistance at 54.95 NSE USD-INR FUTURE
- Prices have support at 54.85 and resistance at 55.15
- EUR-USD (1.3244): Prices have support at 1.32 and resistance at 1.3359.
- US Dollar Index (79.65): Prices have support at 79.25 and resistance level at 79.80
- EUR-INR (Close: 72.55): Prices have support at 72.45 and resistance at 72.75.
- GBP-INR (Close: 88.45): Prices have support at 88 and resistance at 89
- JPY-INR (Close: 63.40): Prices have support at 62.40 and resistance at 64
- Dollar/rupee opens near one-week low Thursday amid expectations of more stimulus from Japan and tracking gains in euro
- Fall in the currency pair could however be restricted on concerns over US fiscal cliff as lawmakers meet today to fix a deal and on month-end demand for dollars from oil importers
- Dollar/rupee fluctuated in afternoon trades Thursday on month-end demand from oil importers amid custodian banks selling and overseas inflows
- Euro/dollar rose to near one-week high Thursday on optimism over a deal on US fiscal cliff as US lawmakers meet later today to possibly negotiate a deal before the end of the year
- Japan's new finance minister on Thursday urged the Bank of Japan to show a greater sense of urgency in dealing with deflation, saying that it is sapping vitality from the country's corporate sector and that it could eventually jeopardize the government's finances.
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