USDINR on its weekly charts is moving in a symmetrical triangle pattern and it will face strict resistance near the upper band around 55.3000 levels above which next resistance is seen near 55.9000. If it surpasses the support level of 53.7500 then it may fall further towards lower levels around 53.1000.
EURINR
EURINR continued its bearish rally and closed on a negative note last week. On weekly charts, it will find its strong support near the trend line around 69.4500. Sustaining below this level will result in a negative breakout towards 68.5000 while if reversals occur from this support level then it may move in the range of 70.5500-71.0000.
Global Forex Updates:
Yen Set for Longest Monthly Drop in 12 Years on Easing.
China’s Yuan Rises to 19-Year High as Central Bank Boosts Fixing.
Flaherty Said to Get Carney Replacement List Next Week.
For more info click here
The Weekly Forex tips
The country’s foreign exchange reserves rose for the second consecutive week, going up by $ 1.05 billion to $ 293.37 billion on a rise in the core currency assets. Foreign currency assets, a major component of the forex reserves, were up by $ 1.06 billion to $ 260.41 billion for the week ended March 22, the Reserve Bank said.
Domestic Forex Updates:
India’s forex reserves jump $1 billion to $ 293.37 billion.
Rupee up 7 paise at 54.29 Vs USD; ends FY’13 with over 7% loss.
Yuan closes higher but pulls back from record on PBOC stability push.
USDINR
USDINR on its weekly charts is moving in a symmetrical triangle pattern and it will face strict resistance near the upper band around 55.3000 levels above which next resistance is seen near 55.9000. If it surpasses the support level of 53.7500 then it may fall further towards lower levels around 53.1000.
EURINR
EURINR continued its bearish rally and closed on a negative note last week. On weekly charts, it will find its strong support near the trend line around 69.4500. Sustaining below this level will result in a negative breakout towards 68.5000 while if reversals occur from this support level then it may move in the range of 70.5500-71.0000.
Global Forex Updates:
Yen Set for Longest Monthly Drop in 12 Years on Easing.
China’s Yuan Rises to 19-Year High as Central Bank Boosts Fixing.
Flaherty Said to Get Carney Replacement List Next Week.
For more info click here
USDINR on its weekly charts is moving in a symmetrical triangle pattern and it will face strict resistance near the upper band around 55.3000 levels above which next resistance is seen near 55.9000. If it surpasses the support level of 53.7500 then it may fall further towards lower levels around 53.1000.
EURINR
EURINR continued its bearish rally and closed on a negative note last week. On weekly charts, it will find its strong support near the trend line around 69.4500. Sustaining below this level will result in a negative breakout towards 68.5000 while if reversals occur from this support level then it may move in the range of 70.5500-71.0000.
Global Forex Updates:
Yen Set for Longest Monthly Drop in 12 Years on Easing.
China’s Yuan Rises to 19-Year High as Central Bank Boosts Fixing.
Flaherty Said to Get Carney Replacement List Next Week.
For more info click here
