Dollar rupee daily chart technical analysis
dollar to rupee spot pair last closed at 59.57 with gains.on daily chart dollar is is absolute bull run and trading near highs.momentum also still in favor of us dollar.here 58.74 is week average and first support level on downside.57.3 is month average and 55.9 is 3 month average and last support for this uptrend.on upside almost hit top near 60.
on daily chart,usdinr rsi is at 76 and hovering in overbought zone while cci is +176 and still trending towards +200.
Dollar rupee weekly chart technical analysis
dollar rupee spot pair this week rallied almost 5% and from lows of s57.52 to high at 59.92.this was 7 th week of rupee weakness and trading at new suggest bear market for rupee or bull market for us dollar against rupee.
on weekly chart,usdinr 6 month average is 55.31.and 12 month average is 54.4 and in last support of this bull run is 2 years average of 52.68.all average are wide spread as rally was sharp on buying spree as well as trapped short crapped out.
Dollar rupee forecast for 24 to 28 june 2013
for next week,usdinr above 58.74 on closing basis remain buy on dips and on upside 60 will be first target level.then 61.5 to 62.5 will be next zone for long traders.below 58.74 we can see correction which may be sharp on news flow?
from medium to longer term perspective,usdinr may retrace upto 57-58 levels and consolidate.next target zone will be 62.5 if cross 60.below 58 next downside support will be 6 month average of 55.3 as well as target also.