Usd inr weekly-hit 64.3 target next will be 63.5
Usd inr future this week closed at 64.43 with loss. This was straight sixth gaining week for Indian rupee against us dollar. In these 6 week rupee recovered from 67 to almost 64 per dollar. Usd inr future after initial bounce back in April resumed downtrend and hit target of 64.3 and below 64.3 next target will be 63.5. Usd inr future on upside will have strong resistance at 64.7-65.15 and 65.55 and remain sell on rise on those levels. On downside 64.3 and then 63.5 will be April 2017 target zones. From long term view, usdinr future achieved its 2017 bearish target of 64.8 and now heading for 63.35 levels. At end of 2017 rupee might be seen near 61 rupee if this downside long termplays out.
Eur inr weekly-hit 69 and 68.5 target zones expect reversal ahead
Euro rupee future this week closed at 68.58 with huge loss. This was second weekly loss for euro against rupee. Eur inr future opened below support in April series and achieved downside targets of 69 and then 68.5 rupee. On daily chart euro looking oversold and might take support around 68.3 and move upside with strong short covering. Below 68.3 traders keep buy on dips view and expect strong upside up to 69 to 70.15 in short terms. read more about : how to detect the price trend ? From long term view, euro rupee future achieved downside target of 68.7 rupee and below it next targets as well as support will be 66 rupee for year 2017.
Gbp inr weekly-fresh breakdown heading towards targets 79.5 and then 77.8
Pound rupee future this week closed at 80.1 with loss. This was second negative week for pound and it is inching towards sub 80 rupee levels. On daily chart, gbp inr future price trend and momentum both are bearish. We saw breakdown below 81.4 and now it is heading towards bearish swing targets of 79.5 and blow it next target will 77.8 for April series. On upside 81.1 and 81.45 are strong resistance zones and fresh short entry zones on bounce back. read more about :From long term view, gbp inr future is heading towards 76.5 support as well as bearish target zone.
Jpy inr weekly-fresh breakdown heading towards targets 79.5 and then 77.8
Yen rupee future this week closed at 58.26 with loss. After last 2 weeks gains yen seen some profit booking in this week also strong rupee also pushed yen to lows. On daily chart, yen is in uptrend and testing support zones around 58.2. Below 58.3 jpy inr future will change it trend to bearish side and will head towards lower levels of 57.1 and 55.9. read more about : Want professional with live market support and follow ups then today.From long term view, yen is in downtrend and heading lower towards targets of 53 and 46 rupees.