Usd inr weekly-fresh downtrend continuation pattern heading for 64 and 63.5 targets

Dollar rupee future weekly technical analysis report for 15 to 19 may 2017

Dollar rupee future weekly technical analysis report for 15 to 19 may 2017

Usd inr future this week closed at 64.43 with flat gains. We saw strong bounce back for us dollar from oversold but in last rupee take over the change and hit dollar hard.   On chart fresh downtrend continuation pattern is sell signal for traders with stop loss above 64.7 and positional swing targets of 64 and 63.5. On upside 645. And then 64.7 and 64.85 are strong resistances as well as fresh short entry zones.   From long term view, usd inr currency future already achieved 2017 bearish targets of 66.4 and 64.7 and now entered into super bearish zone and might heading for 63.35 and then 61.7 zones.

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Pramod Baviskar

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