USDINR
USDINR likely to commence Tuesday session with gap up between 73.45 – 73.55 levels as Asian Indices declined in early morning session as Wall Street retreated on worries about accelerating inflation, prompting investors to cut back on their exposure to growth-focused stocks on bets of higher interest rates in the not-too-distant future.
Day Trend: - Pair near Support Level (73.00 – 73.30) with oversold territory.
INTRADAY RANGE – 73.14 (73.30 – 73.58) 73.74
EURUSD
On the long-term outlook, EURUSD is bullish. Two weeks ago, the currency pair was pulling back to retest the broken level of $1.20. Further price decrease was prevented at the dynamic support levels. On May 06, the bulls gained more pressure and increases towards the resistance level at $1.22. Today, EURUSD market experience low volatility.
Day Trend: - BULLISH.
INTRADAY RANGE – 1.2212 (1.2161 – 1.2110) 1.2059
GBPUSD
A sluggish dollar helped sterling rally to above $1.412, the highest since Feb. 25, despite Scotland's leader saying another referendum on independence was inevitable after her party's resounding election victory.
Day Trend: - BULLISH.
INTRADAY RANGE – 1.4398 (1.4217 – 1.4036) 1.3855
AUDUSD
The Australian dollar is in positive territory for a fourth straight day. In the European session, AUD/USD is trading at 0.7878, up 0.49% on the day. It’s up, up, up for the Australian dollar. AUD/USD climbed 1.71 last week, its best one-week performance since November 2020.
USDCNY
China’s onshore yuan advanced to its strongest level since 2018 amid signs that the nation’s economy is pulling ahead of others.
The currency rose as much as 0.15% to 6.4250 a dollar, the strongest since June 2018, after breaching its previous year-to-date high of 6.4245 touched in January. The move came after the greenback slid on weaker-than-expected U.S. jobs data on Friday.
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