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CURRENCY OUTLOOK

DAILY CURRENCY MARKET UPDATES

NEWS IN HEADLINE:

* Chinese yuan breaches key 7 level as post-COVID rebound stalls

* Dollar drifts higher as US debt ceiling in spotlight

* Dollar stabilizes near five-week high ahead of more debt ceiling talks

CHART OF THE DAY:

OUTLOOK:

EURINR: EURINR is respecting its 50 SAM beautifully however 89.80-90.00 is an immediate and critical resistance zone, above this, we can expect a short covering rally towards the 90.15-90.35 zone. On the downside 89.60 is an immediate support zone while 89.50 is the next support zone.

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