Today is the big day of Indian elections as there will be voting in more than 120 seats. Any indications that Mr.Narendra Modi will not become the next prime minister could result in more weakness for the rupee and vice-versa. Traders will take positions for next week. There is nothing much on the global front today except the meeting between Russia and NATO over Ukraine.
Usd/inr April 2014: It needs to fall below 60.3275 or break 60.6225 for direction. Overalll usd/inr will find sellers on rise as long as it does not break 60.80.
Euro/inr April 2014: Support is at 83.3450 with 83.98 as the key resistance. There will be another wave of selling only below 83.3450. Only a consolidated break of 83.68 will result in further gains.
Gbp/Inr April 2014: It needs to trade over 101.49 to target 101.90-102.30. There will be sellers only below 101.49 today
Jpy/Inr April 2014: It can fall to 58.96 and 58.69 as long as it trades below 59.27. There will be buyers only over 59.27 today.
Usd/inr April 2014: It needs to fall below 60.3275 or break 60.6225 for direction. Overalll usd/inr will find sellers on rise as long as it does not break 60.80.
Euro/inr April 2014: Support is at 83.3450 with 83.98 as the key resistance. There will be another wave of selling only below 83.3450. Only a consolidated break of 83.68 will result in further gains.
Gbp/Inr April 2014: It needs to trade over 101.49 to target 101.90-102.30. There will be sellers only below 101.49 today
Jpy/Inr April 2014: It can fall to 58.96 and 58.69 as long as it trades below 59.27. There will be buyers only over 59.27 today.
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