Daily FX Trends - Commentaries

USD/INR EURO/USD GBP/USD USD/JPY USD/CHF
Macro Support-Resistance Levels 84.80-87.50 1.1000-1.1900 1.3200-1.3900 138.00-160.00 0.7800-0.8600
Sentiment against USD Positive Negative Negative Positive Positive
Forecast for the day 85.90-86.30 1.1575-1.1670 1.3400-1.3450 148.20-149.30 0.8010-0.8040

Spot rupee opens weaker at 86.00/01 to a dollar level compared to 86.08/09 previous close. The rupee is likely to trade in a narrow range with a downward bias. Equity market benchmarks are trading about 0.2 lower in early trades.

DXY is trading a tad lower at 98.44 level. Dollar index gained in early US session, but was capped by comments from Fed Governor Christopher Waller when he said that it is time to cut rates by 25 bps at the July meeting.

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