Daily FX Trends - Commentaries

USD/INR EURO/USD GBP/USD USD/JPY USD/CHF
Macro Support-Resistance Levels 94.25-97.50 1.1250-1.2100 1.2800-1.3800 150.00-162.50 0.7400-0.8300
Sentiment against USD Negative Positive Positive Negative Negative
Forecast for the day 94.40-95.10 1.1570-1.1660 1.3415-1.3490 159.60-160.40 0.7910-0.7950

Rupee started fresh on positive note, to open at 94.70 levels against last week’s closing of 95.12. Crude oil prices plunged sharply following the announcement of a Memorandum of Understanding between the US and Iran. The agreement will open the Strait of Hormuz for crude oil to be shipped, and the US naval blockade will end immediately. Meanwhile, equity market benchmarks opened about 1.5 higher in early trades.


DXY is trading lower at 99.53 level, as the USD pulled back after the US-Iran announced a deal to end the war.


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