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Tuesday, March 25, 2014

US Dollar Indian Rupee - Short Term Outlook (1 - 6 Months) : 25 Mar 2014

Monthly Trend Indicating downward Momentum targeting  "59 - 58.68", While 59 also the much awaited  trendya sell call @ 69  Multi bagger target... 

On the other side DXY -  Dollar Index indicating Initial signs of pace being set for the next breakout.. Which is a negative for the Indian Rupee which may halt the INR near term appreciation vs Dollar which can push USDINR back again to 66.52 levels or technically lets term it as short term retracement of 69 high's.. 






Price Action 

Support & best buy 59 - 58.68 Resistance @ 63.26/66.52 above that upside capped @ 72 - 75 - 78, however, break down pivot @ 56.74 below that its 47.68 - 44

Now @ 60.45 - Resis @ 61.06

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