forex forecast : rupee entered oversold zones

free nse currency tips for 13 aug 2015

NSE usd inr Aug future today closed at 64.98 with sharp gains. On Yuan devaluation we seen turbulence in all market. Rupee entered in oversold zone against dollar so from here upside is limited for us dollar. Risky swing traders here keep sell on rise view with corrective target up to 64 rupee.
Euro rupee future today closed at 72.43 with 1.34 rupee gain. Here also euro is highly overbought on short term chart suggesting correction is due ahead. Here 72.8 is strong resistance and watch that above it euro will become super bullish but below it correction is still possible.
NSE gbp inr Aug future today closed at 101.28 with gain of 93 paisa. Here 102.4 is strong resistance and if pound get breakout above it then expect higher levels up to 104 to 106. Below it correction is possible on rupee reversal.
NSE jpy inr Aug future today closed at 52.33 with gain of 74 paisa. Here 52.7 and then 53.5 are resistances as well as short to medium term targets. For long traders 51.8 is support and stop loss level.

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Pramod Baviskar

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