Eur inr future December 2016 outlook

Eur inr future December 2016 outlook

Euro rupee below 73.7 remain sell on rise

Eur inr future on last trading session closed at 72.87 with loss. Eur rupee future price trend is down but momentum is on recovery side as we already saw recovery from low of 72 to high above 73+.   For month of December, euro will remain weak and sell on rise below 73.7. Currently is recovering towards 73.7. On downside 71.65 and 70.2 are support zones as well as target zones if downtrend persist for this currency future.   On upside 73.7 is major weekly closing basis hurdle and only closing above 73.7 on weekly basis, change trend for euro. On upside 75.15 and 77.1 are technical December resistance levels for eur inr future.   Eur inr weekly chart showing , euro has taken support above 71 rupee and heading towards medium to long term target of 78 rupee.

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Pramod Baviskar

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