FX MORNING UPDATE 

                                                                                      

USDINR opened at 71.38 on Friday the pair traded in the 71.02-71.42 range. Spot USDINR closed at 71.31, loss of 14 ps for USD as against prior close of 71.45. RBI reference rate was fixed at 71.29. Feb USD/INR closed at 71.43, loss of 16 ps for USD as compared to prior day’s close of 71.59. Feb Euro/INR closed at 81.13, GBP/INR at 92.68 and Yen/INR at 65.10. Rupee has declined 2 Rupees since its recent level of 69.20 traded on 7 th Jan.

FII’S have bought Rs 2517 Cr of Indian Equities in Feb. FII’S have bought Rs 2013 Cr of Indian Equities in this calendar Year till date. FII’S have sold Rs 2699 Cr of Indian debt securities in Feb . FII’S have sold Rs 5300 Cr of Indian debt in this calendar year till date.

Benchmark Nifty declined 1.14% on Friday. DOW declined 63 points (0.25%) on Friday. Nikkei declined 2.01% and Hang seng declined 0.16 %. y’day.

Euro is now at 1.1331, Pound at 1.2945,Yen at 109.75.    

Commodities: Gold is now at USD 1318 and WT1Crude at USD 52.70 /Brent at USD 62.09.

Interest rates: USD 10 Yr yield is at 2.65% and 3 m libor closed at 2.90%. Indian 10 yr benchmark yield closed at 7.34%.        

Economic news: Indian IIP, CPI and US-China trade progress will be the focus in coming week.

Data highlights : – No major data release.

Monday’s calendar: UK industrial and manufacturing production.

USD/INR   71.42 71.02
EUR/USD 1.1331 1.1352 1.1320
GBP/USD 1.2945 1.2976 1.2922
USD/JPY 109.75 109.90 109.64

Daily Support/Resistance table

CurrencyPairs Pivot R1 R2 R3 S1 S2 S3
EURO/USD 1.1334 1.1348  1.1366    1.1316 1.1302  
GBP/USD 1.2933 1.3012 1.3075 1.3153 1,2870 1.2791 1.2728
USD/JPY 109.82

 

110.03 110.29 110.50

 

109.56 109.35 109.08

 

USD/INR 71.25 71.48 71.65   71.08 70.85

 

 

MAJOR SUPPORTS/RESISTANCES AND TREND TABLE

Curency Pair Supports Resistances Trend Remarks
EURO/USD 1.1285/1.1215 1.1520/1.1575 DN UP>1.1520
GBP/USD 1.29/1.28 1.3220 UP DN<1.28
USD/JPY 108.50/107.75 111/112 SIDE UP>112
USD/INR 71/70.85 71.80 SIDE DN<70.85
USD/CHF 0.9860/0.9715 1.00/1.10130 UP  SIDE <0.9850

Technicals: Spot closed above 20,50 and 200 day moving averages but still below 100 day major moving average. 20 day moving average is at 71.25. 50 day moving average is at 70.80. 200 day moving average is at 70.10. Daily MACD is in buy zone, implying bottom at 69.20. Important support zone is at 71 and later at 70.85. Spot closed above its average level of the day.  

Intra day supports and resistances for Feb contract are:

PP: 71.38,S1:71.20, S2:70.97, R1:71.61, R2:71.79.                                                          

Hedging strategy for USD/INR: Hedging decisions be taken according to comfort and accounting rates.

CROSS CURRENCY TECHNICALS:

EURO/USD: The pair is below 200 day moving average. Next Major resistance is at 1.1520 and later at 1.1570. Major support is at 1.1265/1.12. Daily MACD is in sell zone, implying an important top at 1.1520. Weekly MACD is in buy zone, implying important bottom at 1.1215.

GBP/USD: The pair is bullish and trading between major moving averages.Daily MACD  is in sell zone, implying important top at 1.3220 and weekly MACD is  in buy zone, implying important bottom at 1.2440. Important resistance is at 1.3220. Important support is at 1.29 and later at 1.28.

USD/YEN: The pair is below major moving averages. Daily MACD is in buy zone, implying important bottom at 105. Next important resistance is at 111/112.

 

Leave a reply:

Your email address will not be published.

Site Footer

© 2018 GOODWILL - ALL RIGHTS RESERVED