currency watch : rupee might test sub 63 levels

free nse currency tips and intraday levels for tomorrow 7 july 2015

NSE usd inr July future closed at 63.67 with loss. Reversal in equity market and dollar inflow boosted rupee sentiment. For tomorrow 63.8 is intraday resistance and 63.45 is intraday support. For tomorrow 63.45 is intraday target and closing below means sub 63 levels in short terms.
NSE eur inr July future closed at 70.2. We seen high volatility in euro on Greece drama. For tomorrow eur inr intraday support will be 69.7 while on upside 71 and 71.5 are strong resistances. Technically oversold so any positive news from euro zone might trigger short covering in euro future.
NSE gbp inr July future closed at 99.06 with loss of 55 paisa. Euro zone crisis impact also seen on pound and we have seen profit booking and strong rupee also putting extra pressure on exchange prices. Pound below 99.9 remain sell and heading towards 97.4 zone.
NSE jpy inr July future closed at 51.89 with gain of 3 paisa. Yen is getting strong as profit booking is seen in Nikkei index. Here risky traders with stop loss below 51.6 keep long view for targets 52.8 and above.

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Pramod Baviskar

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