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FxWirePro: Euro erases previous loss against Indian rupee, srabilizes above 78.50 mark

  • EUR/INR is currently trading around 78.74 mark.
     
  • It made intraday high at 78.78 and low at 78.44 mark.
     
  • Intraday bias remains bullish for the moment.
     
  • A daily close above 78.54 will drag the parity up towards key resistance around 78.97, 79.63, 80.45, 80.85, 81.04 and 81.54 marks respectively.
     
  • Alternatively, a sustained close below 78.54 will take the parity down towards key supports around 77.73, 77.12 and 76.82 marks respectively.
     
  • The key events from the Eurozone will be ECOFIN meetings.

We prefer to go long on EUR/INR around 78.78, stop loss at 78.40 and target of 79.12/79.63.

By Aarti Panchal
  • Market Data
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