TECHNICAL Impact
USD INR (JAN– Expiry)
US dollar is looking strong on charts hence buying is recommended in USD.
Buy around 54.8800 with a SL 54.6700 possible targets of 55.1500/55.3000/55.4000.
EUR INR (JAN – Expiry)
Euro might fall further as technically looking weak.
Sell below 72.8825 with a SL 72.9800 possible targets of 72.7400/72.6425/72.5300.
OR
Buy above 72.9800 with a SL 72.8825 possible targets of 73.1025/73.2000/73.3225.9818958023
Currency Headlines
Yuan falls as PBOC lowers the reference rate.
Yuan is hovering in bearish mode as the PBOC has lowered the reference rate to four months low which has increased the pressure on their currency. The People’s Bank of China lowered the yuan’s reference rate by 0.09 percent, the most since Sept. 18, to 6.2745 per dollar. The fixing was 0.97 percent weaker than yesterday’s close in Shanghai, near the 1 percent limit allowed by the central bank. The yuan declined 0.04 percent to 6.2162 per dollar, according to the China Foreign Exchange Trade System. The currency has climbed 0.23 percent this month and reached 6.2124 on Jan. 14, the strongest level since the government unified official and market exchange rates at the end of 1993.
USD INR (JAN– Expiry)
US dollar is looking strong on charts hence buying is recommended in USD.
Buy around 54.8800 with a SL 54.6700 possible targets of 55.1500/55.3000/55.4000.
EUR INR (JAN – Expiry)
Euro might fall further as technically looking weak.
Sell below 72.8825 with a SL 72.9800 possible targets of 72.7400/72.6425/72.5300.
OR
Buy above 72.9800 with a SL 72.8825 possible targets of 73.1025/73.2000/73.3225.9818958023
Currency Headlines
Yuan falls as PBOC lowers the reference rate.
Yuan is hovering in bearish mode as the PBOC has lowered the reference rate to four months low which has increased the pressure on their currency. The People’s Bank of China lowered the yuan’s reference rate by 0.09 percent, the most since Sept. 18, to 6.2745 per dollar. The fixing was 0.97 percent weaker than yesterday’s close in Shanghai, near the 1 percent limit allowed by the central bank. The yuan declined 0.04 percent to 6.2162 per dollar, according to the China Foreign Exchange Trade System. The currency has climbed 0.23 percent this month and reached 6.2124 on Jan. 14, the strongest level since the government unified official and market exchange rates at the end of 1993.
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