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CURRENCY OUTLOOK

DAILY CURRENCY MARKET UPDATES

NEWS IN HEADLINE:

* Dollar hits near 7-week low as Fed’s terminal rate approaches

* Dollar dips as jobless claims rise more than expected

* Euro hits 1-month high after Lagarde, Nagel warn on inflation risks

CHART OF THE DAY:

OUTLOOK:

USDINR : USDINR is traded near to its 25 SMA, but 82.70-82.75 is an immediate and critical resistance zone; above this, we can expect a short-covering rally towards the 82.80-83.00 zone. On the downside, 82.45-82.50 is an immediate support zone, while 82.30 is the next support zone.

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