Usd inr weekly-hit all upside targets now it is time to correct

usd inr future predictions for 28 Nov. to 2 Dec. 2016

Usd inr future predictions for 28 Nov. to 2 Dec. 2016

Usd inr future this week closed at 68.44 with gain. In last 3 weeks rupee tumbled from 66.5 to almost 69 against US dollar. Usd inr future price trend and momentum both are strong bullish but heavily overbought on daily as well as weekly chart so now it is time of correction for US dollar.
On downside 68.2 is first major support as well as target zone for this correction phase. Below it next target will be 67.9. If Indian stock market resumes Bull Run then expect 65 rupee for dollar in logger terms.

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Pramod Baviskar

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