Dollar rupee april future : oversold dollar might bounce back up to 67.2

NSE USD INR future monthly technical analysis for april 2016 NSE USD INR future monthly technical analysis for april 2016 NSE usd inr future last closed at 66.49. On chart price trend and momentum both in favor of rupee but US dollar is technically oversold and expect sharp bounce back up to 67.2 in upcoming weeks.     In March, usd inr future had achieved my given targets 68 then 67.15 and final tgt of 66.55. From top we saw almost 2.5 rupee drop in USD.     For April series, rupee outlook still bullish but a bounce back is expected up to 67.2 and then downtrend might resume for targets 65.7 and then possibly 64.95.     Weekly closing above 67.2 means stronger dollar and weaker rupee trend. In that case targets will be upward at 68 and 69.5.

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Pramod Baviskar

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