Next week FOMC meet could use a softer tone on interest rate hike. A softer tone by the FOMC (if any) can result in rupee fall below 60.00 against the US dollar in the inter-bank market.
Usd/inr February 15 (expiry on 25th February 15):
- Jobbers aggressive buy over: 62.03 stop loss 61.88 for 62.22-62.42
- Jobbers aggressive sell below: 61.71 stop loss 61.8250 for 61.4950-61.2525
- Usd/inr can fall to 61.3425 and 60.7650 in case it does not break and trade over 62.2250 by next Friday. Today there will be sellers on rise as long as usd/inr does not break and trade over 61.9225.
Euro/inr February 15 (expiry on 25th February 15):
- Jobbers aggressive buy over: No call
- Jobbers aggressive sell below: 70.1250 stop loss 70.3250 for 69.6750 and 71.1225 (high risk)
- Euro/inr can fall to 69.81 and 69.4450 as long as it trades below 70.5275. Only a break of 70.5275 will resume the intraday bullish zone.
Gbp/Inr February 15 (expiry on 25th February 15):
- Key support is at 92.6175. The next wave of selling will be below 92.6175 to 91.9525 and 91.3325. Only a break of 93.2275 will resume the intraday bullish zone.
Jpy/Inr February 15 (expiry on 25th February 15):
- Yen/inr is overall bearish below 52.42 with 52.02 and 51.71 as key supports.
Recommended Content
Editors’ Picks
EUR/USD stabilizes near 1.0800 as trading action turns subdued
EUR/USD holds steady near 1.0800 on Thursday and remains on track to end the day in negative territory following upbeat macroeconomic data releases from the US. The action in financial markets turn subdued as trading volumes thin out heading into Easter holiday.
GBP/USD extends sideways grind above 1.2600
GBP/USD fluctuates in a narrow channel above 1.2600 on Thursday. The better-than-expected Initial Jobless Claims data from the US and the upward revision to the Q4 GDP growth help the USD stay resilient against its rivals and limits the pair's upside.
Gold pulls away from daily highs, holds above $2,200
Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Thursday. The benchmark 10-year US Treasury bond yield stays near 4.2% after upbeat US data and makes it difficult for XAU/USD to gather further bullish momentum.
XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC
XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase.
Portfolio rebalancing and reflation trades emerge into Q2
Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.