usdinr daily chart technical analysis
usdinr spot last closed at 60.91 with gains.on daily chart we can see dollar is strong bull run and trading at all time high against rupee.
on daily chart usdinr rally started at 54 and now at 61 ,total 7 rupee run and still continue.trend and momentum super bullish here.on chart usdinr week average is 60.23 and first support on downside.then comes 59 as month average and 57.1 is 3 month average and last support from short term view.
indicators on daily chart,usdinr rsi is +70 and still with bullish divergence while cci is +135 and after correction once again moving towards +200!!
usdinr weekly chart technical analysis
usdinr this week closed with gains.this was straight 9th week of gains for dollar.in this week usdinr spot made low at 58.99 while high was 61.29 total 2.29 rupee week movement and trading at new high.
on weekly chart,usdinr major average are in 53-56 range and way down while on upside expect 62.5 as first target zone.
on indicators on weekly chart ,usdinr cci is +255 and still trending higher in overbought zone while rsi is at 72 and trending towards 80.
usdinr forecast for 8 to 12 july 2013
for next week expect rally to continue as technically still looks strong.on upside 61 is achieved and now we may see forwards for 62.5.on downside 60.23 will be first support from week average.on crude oil rally we may see worst level for rupee at 65?that is long term technical target also.
from medium to long term view,usdinr approaching target of 62.5 and then next will be in-between 65-67.on downside average support way down but 60 will remain major psychological support for now.