USD INR predictions for 10-14 March 2014

USD INR predictions, weekly forecast, price analysis, technical analysis,charts and tips for 10 to 14 March 2014.

USD INR daily chart technical analysis

USD INR spot pair on last trading session closed at 61.21 with gain. On daily chart, USD/INR pair trend and momentum both are down as rupee see inflow of dollar in capital market as well as RBI managing rupee very cleverly. USD INR is trading way below short-term average but technically oversold so expect bounce back ahead.
For next week, USD INR support zones are 60.8 and then 60.25 while on upside 61.4 and 62 are strong resistance zones.
As US dollar is oversold, we may see technical bounce back in next up may be up to 62.

USD INR weekly chart technical analysis

USD INR spot pair this week closed with loss. This week dollar rupee pair hit high at 62.17 while low was at 60.8. Total 1.4-rupee weekly range or 2%+ fall in week and heading towards its 52 weeks average zone.
USDINR weekly chart trend is up but momentum is in bears hand as rupee fundamentals and views are changing. USDINR is now closed below its 6-month average of 61.6 with corrective patterns on indicators.
From medium to long-term view, 60.15 and then 57.5 are strong support zones for pair and targets zones for this correction phase.

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Pramod Baviskar

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