dollar to rupee predictions for 20 to 24 may 2013

dollar to rupee daily chart technical outlook

dollar to rupee or usdinr spot pair closed at 54.87 with gains in last trading session.on daily chart dollar is in uptrend with bullish momentum against rupee.on chart usdinr week average is 54.75 then 54.4 is month average and 54.3 is 3 month average and last support on downside.on upside 55.2 and 56 are upcoming targets as well as resistance zones.on indicators usdinr cci on daily chart is at +161 and topped out while rsi is at 58 with bullish divergence.

 

dollar to rupee weekly chart technical outlook

dollar to rupee on weekly chart showing flat gains in this week after last weeks breakout.trend and momentum still in favor of us dollar on weekly chart.

on downside 54.3 is first support and 6 month average of usdinr.below that 53.75 is 12 month average while 52.2 is 2 years average and last support on chart.on upside 55.9 and 57 are resistances from medium to long term view.on indicators usdinr cci level is +107 and with bullish divergence while rsi is 55 and trending upwards.

dollar to rupee predictions for 20 to 24 may 2013

for next week,expect some correction here but overall trend remain in favor of dollar.54.4-54.7 is accumulation zone stoploss remain below 54.3 on closing basis and expect 55.2 and then 56 as targets for next week.s&P warning definitely add up for rupee weakness.as indicators overbought enter long on correction only.

from medium to long term view,above 54.3 on weekly closing basis hold long view for dollar and expect 55.9 and then 57 as upside targets in medium term.as equity market at new high and still dollar resilience suggest we may definitely going to see 60 level here in longer terms.

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Pramod Baviskar

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