USD INR daily chart technical analysis
USD INR spot pair on last trading session closed at 61.01 with loss. On daily chart, pair trend and momentum both are down. For next week, USD INR support zones are 60.8 and 60.5 while on upside 61.4 is first resistance that is its 1-month average level and 61.8 is next resistance level, which is 3-month average zone. Daily chart indicators pattern are mixed but suggesting some recovery for US dollar in next week. That is why traders above 60.5 keep buy on dips view for dollar rupee and expect bounce back up to 61.4 to 61.8 in next week.
USD INR weekly chart technical analysis
USD INR spot pair this week closed flat. On weekly chart, USDINR price trend is bullish but momentum is weak as profit booking hit the US dollar. Pair is still trading above its 12 and 24-month averages but bearish divergences on weekly chart.
From medium to long-term view, 60.24, which is 12 month, average for USD INR is first support on weekly chart. Below that 57.5 is 2 years average level and next major support zone on downside. 61.55 is usd inr 6-month average and first resistance eon weekly chart. Above it, 63 will be next major resistance zone. Weekly chart indicators pattern are bearish but near oversold zone so expect short covering ahead. Above 60.2 on weekly closing basis investors, keep long view US dollar stay long on it.