Dollar rupee future in last trading session closed at 63.88 with huge loss. Dollar rupee future opened at 64.36 for month of august and since then we are seeing continues selling in US dollar.
In last trading session, usd inr future opened at 64.3 and strong selling hit low of 63.8 rupee. My august expiry targets were 64 and then 63.75 rupee and we almost seen second target with low of 63.8 rupees.
Now Dollar rupee future looking very bearish and strong inflow in Indian equity market might push pair to record lows. Below 63.75 rupee, Dollar rupee future for month Aug turn super bearish and will head for my next sell targets 63.2 and then 62.9 rupees.
From long term view, Usd inr future is in super bearish zone and heading towards my 2017
Target zones of 63.35 and then possibly 61.7 rupee is expected till December 2017.