EUR INR daily chart technical analysis
EUR INR spot pair on last trading session closed at 83.96 with loss. On daily chart, euro rupee price trend and momentum both are down. Euro is trading below major average with bearish divergences on chart. For next week, EUR INR support zones are 83.5 and 82.9 while on upside 84.8 and 85.5 are strong resistances. 84.8 is month and 3-month average zone and major resistance. Indicators are bearish but near oversold so expect short covering ahead.
Traders above 83.4 keep buy on dips view here for upside targets up to 84.8 in next week.
EUR INR weekly chart technical analysis
EUR INR spot pair this week closed with loss and just above its 6-month average zone. This week euro-rupee pair hit high at 85.14 while low was at 83.86. Total 1.28 rupee or 1.5% weekly swing for euro and closed with loss on correction. On weekly chart, 83.75 is its 6-month average and first support and below it 81.1 is 12-month average and next support. On upside 85 and 86 rupees are strong resistances for euro. Weekly chart indicators pattern are bearish and suggesting downside for euro in upcoming weeks.
Traders can investors for next week watch 83.75 levels for closing. If close above it with gains that will be reversal buy signal for euro for targets 85 to 86. If close below it then correction will continue and euro may test 81-rupee level.