usd inr weekly predictions for 30 may to 3 june 2016

usd inr weekly predictions for 30 may to 3 june 2016 Usd inr future this week closed with loss. We saw strong us dollar rally and then strong profit booking in it on dollar inflow in equity market.   For next week, dollar rupee future outlook remain bearish and strategy remain sell on rise. On weekly chart, usdinr future support zones are 67.15 and 66.7 while on upside 67.5 and 67.8 are resistances.   Currency traders can use 67.5 and 67.8 levels to create fresh shorts on bounce back with stop loss for tgts 67.15 and then 66.8 in next week.   On monthly chart, if usdinr slips below 66.15 then expect strong long term rally in rupee and weak US dollar. Until then us dollar long term outlook remain bullish.

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Pramod Baviskar

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