USDINR opened at 73.17 y’day and the pair traded in the 73.05-73.19 range. Spot USDINR closed at 73.11 , loss of 7 ps for USD as against prior close of 73.18. RBI reference rate was fixed at 73.10 on 05/01Jan USD/INR closed at 73.25, loss of 13 ps for USD as compared to prior day’s close of 73.38. Jan Euro/INR closed at 90.36, GBP/INR at 99.99 and Yen/INR at 71.18.

FII’S nett bought Rs 52883 Cr of Indian Equities in Dec . FII’S nett bought Rs 4681 Cr of Indian debt securities in Dec . In this financial year, FII’S have nett bought Rs 211793 Cr of Equities and have sold Rs  21789 Cr in debt. In FY 19-20, FII’s sold Rs 10200 Cr of Equities and 47393 cr of debt.

Benchmark Nifty declined 0.47% y’day.DOW climbed 437 points (1.44%).Nikkei declined 0.38% and Hang seng climbed 0.15%.

Euro is now at 1.2332,Pound at 1.3620,Yen at 103.08.      

Commodities: Gold is now at USD 1921 and WT1Crude at USD 50.73/Brent at USD 54.38.

Interest rates: USD 10 Yr yield is at 1.03% and 3 m libor closed at 0.23%. Indian 10 yr benchmark yield closed at 5.89%.

Economic news: Equities and Crosses traded higher, shrugging off political chaos in US capital. The EU economy contracted for a second successive month in December, deteriorating at a slightly faster rate than previously thought at the end of the year due to intensifying COVID-19 restriction. Crude rallied on Saudi Oil cut.

Data highlights: – US ADP employment report showed job loss of 123k jobs and factory orders climbed 1% m/m.

-EU PMI(services) was finalised at 46.4 and PPI climbed 0.4% m/m.

-UK PMI(services) declined to 49.4.

Thursday’s calendar: – US FOMC Minutes, weekly jobless claims and ISM(non mfrg)

-EU CPI, retail sales and factory orders

-UK PMI(construction)

USD/INR   73.19 73.05
EUR/USD 1.2332 1.2349 1.2266
GBP/USD 1.3620 1.3671 1.3539
USD/JPY 103.08 103.44 102.60

Daily Support/Resistance table

CurrencyPairs Pivot R1 R2 R3 S1 S2 S3
EURO/USD 1.2319 1.2372 1.2402 1.2455 1.2289 1.2236 1.2205
GBP/USD 1.3611 1.3683 1.3743 1.3815 1.3551 1.3479 1.3419
USD/JPY 103.02


103.44 103.87 104.29 102.60 102.17




USD/INR 73.11 73.18 73.25   73.03 72.97  


Curency Pair Supports Resistances Trend Remarks
EURO/USD 1.2060/1.1985 1.2470 UP DN<1.19
GBP/USD 1.34/1.3135 1.3710 UP DN<1.31
USD/JPY 103/101.20 104.75/105.65 DN UP>104.75
USD/INR 72.90 73.40/73.55 DN SIDE>73.95
USD/CHF 0.8820/0.87 0.8980/0.9030 DN UP>0.9030

Technicals: Spot closed below 100 and 200 day moving average. 20 day moving average is at 73.47. 50 day moving average is at 73.86.200 day moving average is at 74.65. Daily MACD is in sell zone, implying top at 73.95. Important support is at 72.90 and important resistance is at 73.40/73.55 . Spot closed at average level of the day.

Intra day supports and resistances for Jan contract are:

PP:73.28,S1:73.18, S2:73.12, R1:73.34, R2: 73.44.                        

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


EURO/USDThe pair is above all major moving averages. Next Major resistance is at 1.2470. Major support is at 1.2060/1.1960. Daily MACD is in buy zone, implying an important bottom at 1.1610. Weekly MACD is in buy zone, implying important bottom at 1.1610.

GBP/USD: The pair is above major moving averages . Daily MACD  is in buy zone, implying important bottom at 1.3135 and weekly MACD is  in buy zone, implying important bottom at 1.2675. Important support is at 1.3225/1.31355 . Important resistance is at 1.3710.

USD/YEN: The pair is below major moving averages. Daily MACD is in sell zone, implying important top at 104.75. Next important resistance is at 104.75/105.70. Important support is at 103/101.20.

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