Currency forecast for 12 March 2014

MCX-SX Currency forecast, rupee predictions, INR outlook, forex levels and FX technical analysis for 12 March 2014.Currency forecast for 12 March 2014USDINR March expiry future last closed at 61.18 with 10 paisa gain. Today in Intraday MCX-SX Dollar-rupee future hit high at 61.2 while low was 61.79. Total 41-paisa intraday range and closed with gain. For tomorrow, US dollar may continue to gains, on short covering. EURINR March future last closed at 84.68 with loss of 5 paisa. Today in Intraday MCX-SX Euro-rupee future hit high at 84.76 while low was 84.3. Total almost 46-paisa intraday range and closed with loss. For tomorrow, euro future may give bounce back up to 85.2. GBPINR March expiry future last closed at 101.65 with loss of 9 paisa. In intraday MCX-SX Pound-rupee, future hit high at 101.78 while low was at 101.21. Total 60-paisa intraday range and closed with loss. For tomorrow pound, future above 101 will remain buy on dips. JPYINR March expiry future last closed at 59.33 with 19 paisa gain. In intraday MCX-SX Yen-rupee, future hit high at 59.33 while low was at 58.9. Total 43-paisa intraday range and closed with gain. For tomorrow yen, future may continue its technical bounce back run.

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Pramod Baviskar

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