Usd inr weekly-resumed downtrend on strong equity inflows

Dollar rupee future weekly technical analysis report for 29
may to 2 June 2017

Usd inr future this week closed at 64.45 with strong loss. Last
week, Rupee triggered trend reversal on global volatility and as well as on EM
currency sell off. But this week we saw strong profit booking in weak dollar and
pair resumed downtrend for fresh lows. 
This week we saw 50 paise range in usd
inr future. Below 64.8 usd inr future will remain weak and absolute sell for targets
of 64 to 63.4. Expect sell off to continue in next week as we are seeing strong
dollar inflows in equity markets.
For next week, usd inr future on upside will have resistance
zones at 64.8 and 65.12 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.

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