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FOREX NEWS & UPDATES
¤ Dollar index off 82 mark, unemployment claims increase.
¤ Euro firm on hopes of central bank action, soft US data.
¤ Sterling supported but risks lurk as debt crisis festers.
¤ Japan keeps interest rate unchanged; safe haven appeal boosts.
¤ Indian rupee trade volatile ahead of RBI monetary policy.
USD-INR Outlook :- For this week, USD-INR is expected to trade in the range 55 and 56.25. Traders should go for sell on higher levels strategy, If USD-INR sustains below 55.50 then below 55 it can test levels of 53.80. If USD-INR sustains above 56 it can test levels of 56.20. Trade by keeping the strict stop losses.
Major supports for this week in USD-INR: 55.1700 and 54.6200
Major Resistances for this week in USD-INR: 56.1725 and 56.6250
EUR-INR Currency Trend :-
For this week, Traders should go for buy on lower levels strategy, if EUR-INR sustains above70 then it can test levels of 70.50 it can test 71. If EUR-INR sustains below 69.6500 it can test levels of 69.3000. Trade by keeping the strict stop losses.
Major supports for this week in EUR-INR: 69.7700 and 69.3350
Major Resistances for this week in EUR-INR: 70.5350 and 70.8600
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