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CURRENCY OUTLOOK

DAILY CURRENCY MARKET UPDATES

NEWS IN HEADLINE:

* Dollar bounces off one-year low, weak retail sales not as bad as feared

* Dollar rebounds from one-year low as Fed officials talk up further hikes

* JPMorgan sees Turkey lira diving towards 30 per dollar after elections

CHART OF THE DAY:

OUTLOOK:

EURINR: Technically, EURINR is continuing its uptrend and there is no signal of weakness due to weakness in the Dollar Index. It’s traded below 102 levels and is facing continued selling pressure. The buy on decline strategy should be followed in EURINR. It has good support around 89.90 and upside it will test 90.40-90.60 levels, while below 89.90 it may head towards 89.70-89.50 levels again.

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