USD INR daily chart technical analysis
USDINR spot on last trading session closed at 62.5 with gain. On daily chart US dollar is strong bullish against Indian rupee. For next week USDINR outlooks I bullish and expect higher targets. On downside 62.-62.2 is major support zone and important on daily closing basis. On upside expect resistances at 62.9 and then 63.5. Major indicators are bullish but in overbought zones so expect some consolidation and then up move for US dollar. Traders here can buy USDINR 62-call option on decline or stay long in Feb. expiry future with strict stop loss.
USD INR weekly chart technical analysis
USDINR this week closed with loss because of correction and profit booking. On weekly chart, USDINR pair trend and momentum still bullish and medium to long-term outlook still bullish for US dollar. In last week, pair had taken support at its 6-month average. 61.55 is 6-month average while on upside 64 and 66.5 are strong resistance levels on weekly chart. USDINR CCI and RSI showing strong reversal signals and signaling bull run ahead! For month of February USDINR, spot may show levels above 64.