Euro rupee future weekly technical analysis report for 15 to 19 may 2017
Eur inr future this week closed at 7.16 with huge loss on profit booking. Strong rupee and weaker euro pushing pair on downside towards support zones. Euro rupee future price trend is bullish and this retracement is actually buying opportunity with stop loss. On downside euro rupeehas strong support at 69.7-69.6 zone and above it outlook remain bullish for positional swing targets 71.4 and then 72.4. 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.