USDINR
We are expecting , The Rupee likely to commence Monday session with weaker note between 74.85 / 74.95 levels against greenback. Domestic unit getting hammered as corona virus mounting dramatically.
Note : - Importer must cover medium term position via option strategy or wait for 30 - 50 pips fall.
Exporter cover short term position with every 15 - 20 pips move.
INTRADAY RANGE - 74.07 ( 74.52 - 75.08 ) 75.43
DOLLAR INDEX
The greenback and bond yields are taking something of a breather after scaling multi-month peaks at the end of last month, powered by bets that an accelerating U.S. recovery from the pandemic will lift inflation faster than Federal Reserve policymakers anticipate.
Day Trend - Down but Inverted hammer appear with over sold momentum.
INTRADAY RANGE - 92.78 ( 92.38 - 91.99 ) 91.60
EURUSD
Despite the recent strength of the US Dollar (USD) and its advance attempts today, the Euro US Dollar (EUR/USD) exchange rate is on track for big gains this week.
Day Trend - Up but momentum indicator indicates pair in over sold territory.
INTRADAY RANGE - 1.1977 ( 1.1923 - 1.1869 ) 1.1815
GBPINR
GBP/USD remains under pressure and is currently eyeing a further re-test of the 1.3668 multi-week low made in late March. The pair have rejected this level once but this support does now weak and a further sell-off may see the pair break through the recent supportive uptrend and look at 1.3600 ahead of an older swing-low at 1.3560, made in early February.
Day Trend - Weak
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