Traders will start taking positions for October as the week progresses. Key global events and key global economic data are all released. Indian’s will be looking forward to prime minister’s visit to USA over the weekend. US dollar inflows from Indians working abroad will rise this week as festivals start. Profit taking in Indian stock markets and sharp gains in the US dollar are the only risk for the rupee.
There is nothing much on the global front. Traders are still digesting last weeks event. Better to remain on the sidelines.
Usd/inr October 2014: It needs to break 60.47 or fall below 60.14 for direction. However in case usd/inr does not break 61.86 this week then it will fall to 60.96 and 60.72. Jobbers watch 61.32 all the time.
Euro/inr October 2014: It needs to break and trade over 79.06 for further gains. Initial support is at 78.70 and there will be sellers only below 78.70 with 78.32 as the key support.
Gbp/Inr October 2014: A break of 100.42 will result in 100.67 and 101.02. Initial support is at 100.09. There will be sellers only below 100.09.
Jpy/Inr October 2014: It can rise to 56.96 and 57.12 as long as it trades over 56.19. There will be sellers only below 56.19 today. We prefer a buy on sharp dips strategy this week as long as jpy/inr trades over 54.96-55.10 zone.
There is nothing much on the global front. Traders are still digesting last weeks event. Better to remain on the sidelines.
Usd/inr October 2014: It needs to break 60.47 or fall below 60.14 for direction. However in case usd/inr does not break 61.86 this week then it will fall to 60.96 and 60.72. Jobbers watch 61.32 all the time.
Euro/inr October 2014: It needs to break and trade over 79.06 for further gains. Initial support is at 78.70 and there will be sellers only below 78.70 with 78.32 as the key support.
Gbp/Inr October 2014: A break of 100.42 will result in 100.67 and 101.02. Initial support is at 100.09. There will be sellers only below 100.09.
Jpy/Inr October 2014: It can rise to 56.96 and 57.12 as long as it trades over 56.19. There will be sellers only below 56.19 today. We prefer a buy on sharp dips strategy this week as long as jpy/inr trades over 54.96-55.10 zone.
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