USDINR opened at 76.16 Y’day and the pair traded in the 76.08-76.19 range. Spot USDINR closed at 76.16 , unchanged for USD as against prior close of 76.21. RBI reference rate was fixed at 76.15 y’day. June USD/INR closed at 76.17, loss of 7 ps for USD as compared to prior day’s close of 76.24. June Euro/INR closed at 85.65, GBP/INR at 95.31 and Yen/INR at 71.15.  

FII’S have nett bought Rs 21635 Cr of Indian Equities in June . FII’S have nett sold Rs 2193 Cr of Indian debt securities in June. In FY 19-20, FII’s have sold Rs 10200 Cr of Equities and 47393 cr of debt.

Benchmark Nifty climbed 2.13% Y’day. DOW declined 170 points (0.65%) Y’day. Nikkei declined 0.45% and Hang seng declined 0.07% y’day.

Euro is now at 1.1266,Pound at 1.2557,Yen at 107.22.     

Commodities: Gold is now at USD 1731 and WT1Crude at USD 37.60/Brent at USD 40.30.

Interest rates: USD 10 Yr yield is at 0.70% and 3 m libor closed at 0.34%. Indian 10 yr benchmark yield closed at 5.79%.

Economic news: :- BOE unanimously left the Bank rate unchanged at a record low of 0.1%. BOE increased the size of its asset purchase program by +100B pound. Members acknowledged that global economic contraction in 2Q20 will be “less severe than expected”.

Data highlights : – US Weekly jobless claims was reported at 1508k.

Friday’s calendar: UK retail sales.

USD/INR   76.19 76.08
EUR/USD 1.1238 1.1294 1.1207
GBP/USD 1.2532 1.2588 1.2512
USD/JPY 106.79 107.44 106.86

Daily Support/Resistance table

CurrencyPairs Pivot R1 R2 R3 S1 S2 S3
EURO/USD 1.1248 1.1289 1.1335 1.1376 1.1202 1.1161 1.1114
GBP/USD 1.2550 1.2588 1.2626 1.2664 1.2512 1.2474 1.2436
USD/JPY 107.06


107.26 107.64 107.84 106.68 106.48 106.09


USD/INR 76.14 76.20 76.25   76.09 76.03


Curency Pair Supports Resistances Trend Remarks
EURO/USD 1.1145/1.1020 1.1425 UP DN<1.0950
GBP/USD 1.24/1.2075 1.2810 SIDE UP>1.2810
USD/JPY 106 108.45/111.70 UP DN<108.45
USD/INR 75.65/75.25/75 76.40 UP SIDE<75.64
USD/CHF 0.94 0.9675/0.9775 DN UP>0.98

Technicals: Spot closed above 200 day moving average. 20 day moving average is at 75.73. 50 day moving average is at 75.89.200 day moving average is at 72.70. Daily MACD is in buy zone, implying bottom at 75.05. Important support is at 75.05/74.90. Spot closed above its average level of the day.

Intra day supports and resistances for June contract are:

PP:76.19,S1:76.07, S2:75.98, R1:76.28, R2: 76.40                           

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


EURO/USD: The pair is above 50 and 200 day major moving average. Next Major resistance is at 1.1425. Major support is at 1.1145 and later at 1.1020. Daily MACD is in buy zone, implying an important bottom at 1.0750. Weekly MACD is in buy zone, implying important bottom at 1.0650.

GBP/USD: The pair has turned sideways and is below 200 day major moving average.Daily MACD  is in buy zone, implying important bottom at 1.2075 and weekly MACD is  in buy zone, implying important bottom at 1.2275. Important resistance is at 1.2810. Important support is at 1.24 and later at 1.2075.

USD/YEN: The pair is below major moving averages. Daily MACD is in sell zone, implying important top at 110. Next important resistance is at 108.45. Important support is at 106.

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