TECHNICAL Impact
USD INR (FEB– Expiry)
US dollar is looking weak on charts hence selling is recommended in USD.
Sell around 53.8600 with a SL 54.0000 possible targets of 53.6200/53.5000/53.3300.
EUR INR (FEB – Expiry)
Euro might fall further as technically looking weak.
Sell below 72.0025 with a SL 72.1600 possible targets of 71.8600/71.8025/71.6600.
OR
Buy above 72.1600 with a SL 72.0625 possible targets of 72.3025/72.4000/72.5525.
Currency Headlines
Rupees declines the months low on speculation of FII capital withdrawal.
Indian rupee is hovering near this month’s low as the speculations have increased that FII had started withdrawing funds from Indian markets which has increased the pressure on their currency. The rupee declined 0.4 percent to 53.7050 per dollar. It touched 53.745 earlier, the lowest level since Jan. 29. The currency fell 0.6 percent in the five days through Feb. 8, snapping a four-week advance. Three-month onshore rupee forwards traded at 54.71 per dollar, compared with 54.66 on Feb. 8. Offshore non-deliverable contracts were at 54.54 versus 54.45.
USD INR (FEB– Expiry)
US dollar is looking weak on charts hence selling is recommended in USD.
Sell around 53.8600 with a SL 54.0000 possible targets of 53.6200/53.5000/53.3300.
EUR INR (FEB – Expiry)
Euro might fall further as technically looking weak.
Sell below 72.0025 with a SL 72.1600 possible targets of 71.8600/71.8025/71.6600.
OR
Buy above 72.1600 with a SL 72.0625 possible targets of 72.3025/72.4000/72.5525.
Currency Headlines
Rupees declines the months low on speculation of FII capital withdrawal.
Indian rupee is hovering near this month’s low as the speculations have increased that FII had started withdrawing funds from Indian markets which has increased the pressure on their currency. The rupee declined 0.4 percent to 53.7050 per dollar. It touched 53.745 earlier, the lowest level since Jan. 29. The currency fell 0.6 percent in the five days through Feb. 8, snapping a four-week advance. Three-month onshore rupee forwards traded at 54.71 per dollar, compared with 54.66 on Feb. 8. Offshore non-deliverable contracts were at 54.54 versus 54.45.