Dollar rupee futures outlook for next week 12 to 16 Dec. 2016
closed at 67.52 with heavy loss. This was second losing week for US dollar and almost lost 1.5 rupee gains in these 2 weeks. Means almost 3% gains for rupee against dollar. Usd inr future on downside achieved corrective target of 68 rupee and breakdown below 68 was fresh downtrend start for US dollar against rupee. for usd inr on breakdown and we already low of 67.42 in this week.
For next week, usd inr future below 67.8 remain sell and my weekly usd inr targets are 67.2 and then 66.8.
is now in downtrend and on downside 67.1 is first support and below it next major support as well as bearish target will be 65.55.
From long term view, usd inr future achieved 68.65 target and now correcting towards long term support of 65 rupee.