* USDINR trading range for the day is 64.79-65.62.
* Rupee gained after Federal Reserve stuck to its outlook of three rate hikes this year.
* Traders are cautious as US President Donald Trump plans to announce about $50 billion of tariffs against China over intellectual-property violations.
* India’s trade deficit narrowed to $12 billion in February, its lowest in five months, amid concern that a global trade war could hit its exports
USDINR Technical Outlook
* Prices fails to break above the resistance placed at 64.13
* Deeping ADX, RSI and MACD is indicating 65.50 to be a short term top
* Trend to remain bullish till 64 is not broken on the downside
* If prices sustain above 64.90 we might see prices testing 65.50.
* EURINR trading range for the day is 79.97-80.71.
* Euro gains as the dollar recorded its largest one-day loss as Federal Reserve officials stuck to their view of three rate increases for 2018 as they want to see a further pickup in inflation.
* Germany’s strong economic growth is set to continue in the months ahead, as demand for the country’s exports are expected to improve.
* Spain’s foreign trade gap widened at the start of the year, as imports grew faster than exports, preliminary figures from the Economy Ministry showed.
EURINR Technical Outlook
* Prices are trading in a range 81.05 and 79.70 and closed above 20 SMA(80.22)
* Negative divergence between prices and indicator are indicating some caution
* Trend to remain bullish till 79.70 is not broken on the downside
* If prices sustain above 80.20 we might see prices testing 80.60 levels.
* GBPINR trading range for the day is 91.88-92.4.
* GBP rose after data showed British workers’ pay rose at the fastest pace in nearly 2-1/2 years in the three months to January.
* The Office for National Statistics said workers’ total earnings, including bonuses, rose by an annual 2.8 percent.
* UK public sector net borrowing excluding state-owned banks grew in February, figures from the Office for National Statistics revealed.
GBPINR Technical Outlook
* Prices break above the resistance 91.86 and made a highest high since July 2016
* ADX, RSI and MACD rounding of at same time indicating 91.86 to be an short term top
* Trend to remain bullish till 89.80 is not broken on downside
* If prices sustain above 91.80 we might we prices testing 92.50 levels.
* JPYINR trading range for the day is 61.31-61.85.
* JPY gains as a refuge against risk but also thanks to a commitment by the Bank of Japan (BOJ) to keep an ultra-loose monetary policy.
* Japan’s all industry activity decreased for the first time in four months in January, in line with expectations, data showed.
* The manufacturing sector in Japan continued to expand in March, albeit at a slower pace, data showed with a manufacturing PMI score of 53.2.
JPYINR Technical Outlook
* After making a shooting star pattern with a high of 61.78 prices are heading downward
* ADX and RSI rounding of indicating 61.99 to be an short term top
* Trend to remain bullish till 60 is not broken on the downside
* If prices sustain above 61 we might see prices testing 61.80 levels.
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