Dollar rupee future weekly technical analysis report for 12 June to 16 June 2017
Usd inr future this week closed at 64.4 with strong loss. This was third losing week for US dollar and rupee resumed uptrend after small retracement.
But this week we saw strong profit booking in weak dollar and pair resumed downtrend for fresh lows. This week usd inr future hit high at 64.68 and recorded low at 64.3 while my given sell targets were 64.2 and then 63.65!!
Expect sell off to continue in next week as we are seeing strong dollar inflows in equity markets. Below 64.65 usd inr future will remain sell on rise for targets 64.2 and then 63.65.
For next week, usd inr future on upside will have resistance zones at 64.5 and 64.7 levels.
From long term view, usd inr currency future already achieved 2017 bearish targets of 66.4 and 64.7 and now resumed long term downtrend this week for targets 63.4 to 61.7 levels.