DOLLAR INR Future Daily Chart Technical Analysis
Dollar rupee future of December expiry on last trading session closed at 70.92 with loss. On daily chart Dollar rupee future price trend is down but momentum is on recovery side and dollar hit its recovery move target of 71.35 in this week. Now trading below it but with bullish indicators. We saw smart recovery from 69.8 lows and now moving towards 71.35 level.
Dollar rupee future above 71.35 will turn bullish and will head for buy targets of 73 and above. But if sustain below 71.4 then expect another fresh selling wave for dollar and bearish target of 68.3 and below.
Dollar rupee future weekly chart technical analysis
Dollar rupee future on weekly chart showing gains for this week. This was first gaining week for dollar after last 3 weeks sell off. This week we saw rally from 70 to 71.3 means 1.3 rupee or 2% move from the lows.
From medium to long term view, Dollar rupee future achieved 2018’s all bullish and super bullish buy targets of 67.2 and then 70.25 and then 71.95 and lastly almost hit 75, now correcting towards them. Below 72 expect deeper correction towards major long term support of 70.2 & 67.2 rupees. We saw low of 69.8 and look like taken support around 70.2 and now recovering towards 72 & 75 rupee zones. On weekly chart dollar is looking oversold and still around bottom.
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