Insignia Consultants
New Delhi
Thursday, July 11, 2019
TIME: 9:00 am IST
FOREX REPORT (inter-bank prices below) Thursday, July
11, 2019
US dollar should trade with a softer bias
today. Interest rate cut towards the end of the month has been confirmed by
Federal Reserve chairman yesterday. US economy still has higher growth than UK,
Eurozone or Japan. US dollar can see a slow and steady decline and not a sell
off. Yen can get the benefit of a safe haven. Nations diversifying their trade
in currencies other than the US dollar implies long term structural decline of
the greenback has started. The next three trading sessions till Monday is very
crucial US dollar Index, Indian rupee, Rupiah and other emerging market
currencies.
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Forex Daily Technical Levels
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usd/inr
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usd/idr
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euro/usd
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gbp/usd
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usd/jpy
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CMP
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68.3550
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14062.50
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1.1273
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1.2529
|
107.94
|
|
S5
|
67.8250
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13964.50
|
1.1192
|
1.2260
|
106.47
|
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S4
|
67.9522
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13988.02
|
1.1211
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1.2325
|
106.82
|
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S3
|
68.0900
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14013.50
|
1.1233
|
1.2395
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107.21
|
|
S2
|
68.1525
|
14025.06
|
1.1242
|
1.2426
|
107.38
|
|
S1
|
68.2299
|
14039.37
|
1.1254
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1.2466
|
107.59
|
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R1
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68.4801
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14085.63
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1.1292
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1.2592
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108.29
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R2
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68.5575
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14099.94
|
1.1304
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1.2632
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108.50
|
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R3
|
68.6200
|
14111.50
|
1.1314
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1.2664
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108.68
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R4
|
68.7578
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14136.98
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1.1335
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1.2733
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109.06
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R5
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68.8850
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14160.50
|
1.1354
|
1.2798
|
109.41
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CMP= Current price market price
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ABOVE TECHNICALS ARE ONLY FOR REFERENCE
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USD/INR: (a) 100% retracement is at 68.2550. (b) Crash or sell off
will be there if rupee trades below 68.2550 to 68.0950 and 67.8850. (b) Rupee
needs to trade over 69.5500 to be in bullish zone.
USD/IDR: (a) 100% retracement is at 13970. (b) Crash till next week will
be there only below 13970. (c) If rupiah falls till Monday, then chances of
13835 and 13737 will be very high by 19th July. (d) Rupiah needs to
trade over 14120-14130 zone to rise further.
Euro/usd: (a) It needs to trade over 1.1210 to rise to 1.1315 and
1.1400. (b) Sell off will be there below 1.1210.(c) Today’s close is important
from a technical perspective.
Gbp/usd: (a) Cable can rise to 1.2597 and 1.2630 as long as it
trade over 1.2470. (b) Small sell off will be there below 1.2470.
Usd/jpy: (a) Yen can fall to 107.53 and 106.40 as long as it trades
below 108.40.
Disclaimer: Any
opinions as to the commentary, market information, and future direction of
prices of specific currencies, crypto currency, metals and commodities reflect
the views of the individual analyst, In no event shall Insignia Consultants or
its employees have any liability for any losses incurred in connection with any
decision made, action or inaction taken by any party in reliance upon the
information provided in this material; or in any delays, inaccuracies, errors
in, or omissions of Information. Nothing in
this article is, or should be construed as, investment advice. Prepared by
Chintan Karnani
NOTES
TO THE ABOVE REPORT
PLEASE NOTE: HOLDS
MEANS HOLDS ON DAILY CLOSING BASIS
ALL PRICES ARE IN
INDIAN RUPEE UNLESS OTHERWISE SPECIFIED
Indian Standard Time
(IST): +5:30 GMT
Current Market Price
(CMP)
All foreign exchange
prices are for inter-bank rates.
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