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DAILY CURRENCY MARKET UPDATES

NEWS IN HEADLINE

* GBP/USD struggles around 1.2080, upside remain favored amid upbeat market sentiment

* EUR/USD renews weekly top above 1.0400 as Fed’s pivot is in the air, ECB Accounts eyed

* PBOC is expected to set the USD/CNY reference rate at 7.1138 – Reuters estimate

CHART OF THE DAY

OUTLOOK

USDINR: USDINR managed to close above its horizontal resistance of 81.80 which open the door for upside upto 82.00-82.20 level, however 81.80 is a immediate support while 82.00 is resistance zone. if takes out the 82.00 level, then we can expect a move towards the 82.20-82.40 level, While if it slips below 81.80 level, then 81.40-81.60 is the next support levels.

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