The rupee strengthened against the US dollar on Friday, closing at its highest level since early August. It appreciated by 32 paise to close at 70.56 against the dollar. The domestic currency gained strength following a decline in crude oil prices after reports that Saudi Arabia agreed to a temporary ceasefire in Yemen. The research recommendation is to sell USD/INR at 70.4, with a target of 70 and a stop loss of 71.0.

1. CURRENCY
28
September
2019
REPORT
USD/INR

2. 1
CURRENCY REPORT
28th Sep 19
TECHNICAL ANALYSIS (USDINR)
SUPPORT 70.440 AND RESISTANCE 72.080
The rupee spurted by 32 paise to close at a nearly two-month high against the US currency on Friday as
crude oil prices receded following reports that Saudi Arabia had agreed on a temporary ceasefire in
Yemen. The domestic currency closed higher by 0.44 per cent at 70.56 to the US dollar, a level not seen
since August 2 when it had ended at 69.60. The rupee had opened weak and declined to the day's low of
70.93 in early trade due to a stronger dollar and losses in stock markets.
RESEARCH RECOMMENDATION
SELL USD/INR AT 70.4 TGT- 70 SL 71.0

3. 7
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