nse usd inr future weekly forecast for 14 to 18 sep 2015

NSE dollar rupee future this week closed with loss. US dollar is technically topping out and made top around 67.15 rupee. This week usdinr future hit high around 67.14 while low was at 66.47. Total 65 paisa or 1% weekly volatility and first major negative closing for us dollar.
Usdinr weekly chart price trend is bullish but momentum looks topped out and price might retrace towards major averages on profit booking.
On downside 65.85 is major support levels to watch, below it expect fresh bearishness for us dollar till then it just only corrective move.
For next week, usd inr future support zone are 66.45 then 66.36 and last 65.95. On upside expect strong supply zones at 66.9 and 67.15. Expect high volatility ahead of fed meeting and some more weakness in rupee but risky traders must use this upside to go short on US dollar and expect minimum corrective target of 65.8 in short terms.

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Pramod Baviskar

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