Mtechtips MCX-SX USDINR INTRADAY trading analysis 24-04-2017

Mtechtips MCX-SX USDINR INTRADAY trading analysis 24-04-2017
Mtechtips Usd inr weekly-hit 64.75 remain buy on dips tgt 64.96 and then 65.7
Usd inr future this week closed at 64.64 with gain. This was second positive week for us dollar after strong sell off. Usd inr future this week high around 64.76 but still seeing supply from market at higher levels.
For next week, usd inr future trading strategy buy on dips as dollar has made bottom support around 64.5 and 64.3. On downside 64.5 and then 63.3 are strong support zones as well as fresh buying levels. On upside 64.96 and 65.7 are resistance zones as well as fresh reversal rally target zones.
From long term view, usdinr future achieved its 2017 bearish target of 64.8 and now heading for 63.35 levels. At end of 2017 rupee might be seen near 61 rupee if this downside long term market momentum plays out.
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