Usd inr weekly technical forecast for 14 to 18 November 2016
Usd inr future this week closed with strong gains. We saw high volatility and in this week usd inr future hit low around 66.45 high around 67.42. Total almost 1 rupee weekly move and negative closing for rupee on outflow as well as on panic situation. Usd inr future outlook remain weak and traders use upside to go short as RBI will intervene on major levels. On upside 67.57 is resistance as well as target while on downside 66.95 and 66.7 are support as well as target zones.
From long term view, us dollar looks strong and heading towards 68.81.