eur inr weekly technical analysis for 21 to 25 dec 2015

Eur inr future this week closed at 71.96 with heavy loss. Stronger rupee and relative weak euro set a lower rate for eur rupee pair. This week euro rupee future hit high around 74.26 while low was around 71.76. Total 3 rupees or 4% plus weekly downside move for the euro on profit booking and fresh selling. Euro now topped out at 74 and heading towards bottoms to test them. This move on the weekly chart has its targets around 69-70 zone.
eur inr weekly technical analysis for 21 to 25 dec 2015
For next week, eur inr future support zones are 71.6 and 70.9. On upside 72.35 and 73.05 are distances. Traders below 72.35 keep short view and hold shorts for targets 71.6 and below.

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Pramod Baviskar

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