Euro rupee future weekly technical analysis report for 22 to 26 may 2017
Eur inr future this week closed at 72.30 with huge gain. Weak rupee and strong recovering euro pushed pair to record high on short covering. This week euro rallied from 70 to 72.5. Almost 4% gains in short terms. Eur inr future achieved my given target of 71.4 and 72.4.price trend is bullish but now looks overbought. On downside euro rupee currency future has strong support at 72.05 and then 71.35 zone and on upside 72.77 and 73.4 are short term resistance zones for next week. From long term view, euro rupee future hit 2017 bearish target of 68.7 and now taken support at that level and bouncing back towards 73.3 resistance zone.