Daily Forex Report By www.epicresearch.co - 28 December 2012

HEADLINES: Rupee down 7 paise against dollar in late morning deals The Rupee dropped by seven paise to 55.13 against the American currency in late morning trade today on mild dollar demand

Indore, India (prHWY.com) December 28, 2012 - Daily Forex Report by www.epicresearch.co - 28 December 2012

HEADLINES:
Rupee down 7 paise against dollar in late
morning deals
The Rupee dropped by seven paise to 55.13 against the
American currency in late morning trade today on mild
dollar demand from banks and importers amid its higher
value overseas. The rupee resumed lower at 55.10 per
dollar as against the last weekend's level of 55.06 at the
Interbank Foreign Exchange (Forex) Market and dropped
further to 55.21 before quoting 55.13 at 1040 hrs.
Persistent dollar demand from banks and importers in
view of its higher value in overseas market mainly affected
the rupee value
Rupee down; seen in tight band as year-end
mood sets in
The rupee fell further against the dollar as weak regional
peers and uncertainty over the US "fiscal cliff" weighed.
The rupee was at 55.1750/1800 to the dollar, weaker than
Friday's close of 55.06/07 when it had touched a three-
week low of 55.2550. However, the unit is expected to
move in a tight band as the year-end lull sets in.

TRADING TIPS
SELL USD/INR
BELOW 54.99
FOR TGT
54.84/54.69
SL 55.14
PAST PERFORMANCE
BUY USD/INR
ABOVE 55.17
FOR TGT
55.32/55.47
SL 55.02
SL TRIGGERED
DAILY USD/INR ANALYSIS:
OPEN: 55.2225
HIGH: 55.2650
LOW: 54.9725
CLOSE: 54.9900
ï‚· USD/INR LOOKS DOWNWARDS
ï‚· TREND: BEARISH
ï‚· STRATEGY: SELL ON RISE
DAILY EUR/INR ANALYSIS:
OPEN: 72.7150
HIGH: 72.7950
LOW: 72.7150
CLOSE: 72.7150
ï‚· EUR/INR LOOKS DOWNWARDS
ï‚· TREND: BEARISH
ï‚· STRATEGY: SELL ON RISE
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