ICICI Direct's currency report on USDINR
Spot Currency
The rupee extended gains for a fourth day as it gained 29 paise in the previous session to close at 74.04 against the dollar. Positive domestic equities and inflows by FIIs helped the rupee to maintain positive stance • Following multi week low, the Dollar index found some momentum and bounced from lower levels. US 10 years yields edged higher to 1.65%. Now Flash Q1 GDP figures, weekly claims, housing data are next on the anvil.
Currency futures on NSE
US$INR May futures contract (NSE) | View: Bullish on US$INR |
Buy US$INR in the range of 74.27-74.30 | Market Lot: US$1000 |
Target: 74.45/ 74.60 | Stop Loss: 74.15 |
Support: 74.00/74.20 | Resistance: 74.80/75.00 |