USD INR (JUN– Expiry)
US dollar is looking weak on charts hence selling is recommended in USD.
Buy above 57.1475 with a SL 57.0475 possible targets of 57.2875/57.3875/57.5075.
OR
Sell below 57.0475 with a SL 57.1475 possible targets of 56.9475/56.8475/56.7475.
EUR INR (JUN – Expiry)
Euro might recover further as technically looking strong.
Buy above 71.3375 with a SL of 71.2300 for possible targets of 71.4775/71.5800/71.6875.
OR
Sell below 71.2300 with a SL 71.3375 possible targets of 71.125075/71.0575/70.9400.
Currency Headlines
Euro tumbled before European economies debt sale. .
Euro is trading near two week low against dollar before the Spanish and Italian debt sale. Even the EU summit this week will be unable to support the tumbling economies of Europe which is another bearish factor for crude oil prices. The euro traded at $1.2506 from $1.2504 at the close in New York yesterday, when it touched $1.2471, the weakest since June 12. It fetched 80.30 U.K. pence from 80.29 pence, following a 0.4 percent decline yesterday. The yen added 0.2 percent to 99.46 per euro and to 79.53 against the dollar.
US dollar is looking weak on charts hence selling is recommended in USD.
Buy above 57.1475 with a SL 57.0475 possible targets of 57.2875/57.3875/57.5075.
OR
Sell below 57.0475 with a SL 57.1475 possible targets of 56.9475/56.8475/56.7475.
EUR INR (JUN – Expiry)
Euro might recover further as technically looking strong.
Buy above 71.3375 with a SL of 71.2300 for possible targets of 71.4775/71.5800/71.6875.
OR
Sell below 71.2300 with a SL 71.3375 possible targets of 71.125075/71.0575/70.9400.
Currency Headlines
Euro tumbled before European economies debt sale. .
Euro is trading near two week low against dollar before the Spanish and Italian debt sale. Even the EU summit this week will be unable to support the tumbling economies of Europe which is another bearish factor for crude oil prices. The euro traded at $1.2506 from $1.2504 at the close in New York yesterday, when it touched $1.2471, the weakest since June 12. It fetched 80.30 U.K. pence from 80.29 pence, following a 0.4 percent decline yesterday. The yen added 0.2 percent to 99.46 per euro and to 79.53 against the dollar.