Traders will now start taking positions for Monday. Cash spot value date in the inter-bank market now shifts to Monday. Friday is a holiday due to “Ganesh Chaturthi”. There is nothing significant in the global markets for now. Indian gold imports will rise in the September to November period which will prevent fiscal deficit from a big squeeze.
Usd/inr September 2014: Initial resistance is at 61.1025 and only a break of 61.1025 will result in further rise to 61.2775 and 61.5650. Initial support is at 60.82250 with 60.6650 as the key support.
Euro/inr September 2014: It needs to trade over 80.2950 till Monday to rise to 80.9650-81.7550. There will be sellers as long as euro/inr trades below 80.2950 to 80.0725 and 79.7975
Gbp/Inr September 2014: Till Monday cable is bearish as long as it trades below 101.10 with 100.39 and 100.10 as price target. Jobbers watch 100.74.
Jpy/Inr September 2014: Key support is at 58.5325. There will be a technical break down below 58.5325 to 58.2875 and 58.0925. There will be buyers only if jpy/inr trades over 58.7750.
Usd/inr September 2014: Initial resistance is at 61.1025 and only a break of 61.1025 will result in further rise to 61.2775 and 61.5650. Initial support is at 60.82250 with 60.6650 as the key support.
Euro/inr September 2014: It needs to trade over 80.2950 till Monday to rise to 80.9650-81.7550. There will be sellers as long as euro/inr trades below 80.2950 to 80.0725 and 79.7975
Gbp/Inr September 2014: Till Monday cable is bearish as long as it trades below 101.10 with 100.39 and 100.10 as price target. Jobbers watch 100.74.
Jpy/Inr September 2014: Key support is at 58.5325. There will be a technical break down below 58.5325 to 58.2875 and 58.0925. There will be buyers only if jpy/inr trades over 58.7750.
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