Usd inr weekly-strong reversal rally hit 64.7 and 65.1 targets

Dollar rupee future weekly technical analysis report for 22 to 26 may 2017

Dollar rupee future weekly technical analysis report for 22 to 26 may 2017

Usd inr future this week closed at 64.69 with strong gains. Rupee triggered trend reversal on global volatility and as well as on EM currency sell off. At last weak dollar is bouncing back from oversold levels. This week we saw 1.1 rupee range in usd inr future. On reversal of trend usd inr future hit bullish swing target of 64.7 and 65.1 targets next major swing target will be 65.8.   For next week, usd inr future support zones as well as buying levels will be 64.55-64.2 and 63.85 while on upside 65.15-65.5 and 65.85 are resistances as well as short term target zones.   From long term view, usd inr currency future already achieved 2017 bearish targets of 66.4 and 64.7 and now this reversal indicating long term bottom out pattern and weak rupee targets up to 66.4 and 67.8.

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