usdinr report for 15 to 19 july 2013

usdinr report for 15 to 19 july 2013

usdinr daily chart technical analysis

usdinr spot last closed at 59.86.on daily chart usdinr trend is still bullish while momentum is losing on correction.

on daily chart,usdinr spot rate closed below week average 59.98 while on downside 59.35 is usdinr month average support and 57.55 is 3 month average support zone.on upside week average and 60.8 is major short term resistances.

on daily chart,usdinr cci is +38 and with bearish divergence while rsi is at 61 and off the highs.


usdinr weekly chart technical analysis

usdinr this week closed with loss.on weekly chart this was first negative closing after last 9 week straight bull run of us dollar.on chart top is formed at 61 and now pair is moving towards supports on downside.

on weekly chart 56.3 is usdinr 6 month average,55 is 12 month average and 53.1 is 2 years average level.all these are major medium to long term supports for now.on upside 61 remain major supply points from long term view.

on weekly chart,usdinr cci is +192 and still in overbought zone with bearish divergence.while rsi is at 67 and off the high.

usdinr report for 15 to 19 july 2013

for next week below 60 level we may see continuation of correction upto 59 and then 57.5 so stay short with stoploss just above 60.if closed above 60 and hold it then might see new high in short equity market inching up we may see some cool off here.57.5 will be best level to enter long from short term view.

from medium to long term view,61 is top for usdinr and remain major supply zone.on downside strong correction may show levels upto for now follow booking profits in long investment and wait for reversal signal.on upside if gives weekly close above 61 then 64-65 will be target zone.risky traders can go short with stoploss above 61 and for target 57 and below in medium terms.

Updated: February 25, 2014 — 10:36 AM

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Pramod Baviskar

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