EURINR daily chart technical analysis
EURINR spot on last trading session closed at 83.82 with loss. On daily chart euro has giving closing below 3-month average level with last session sell off. Now euro is in downtrend with fresh sell signal on chart. For next week, EURINR support zones are 83.55, which is also 1-month average level, and below it, 82.7 will be next support zone of previous lows. On upside 84 is 3 month average and major resistance and above it 84.6 is next resistance zone.
On indicators, CCI is +134 and with off the highs while RSI is 52 but with bearish divergence.
Traders below 84 levels keep short view on euro and expect lower targets of 83.55 and then 82.7.
EURINR weekly chart technical analysis
EURINR spot this week closed with gain. This week euro rupee pair hit high at 84.6 while low was at 83.07. Total 1.5-rupee range or almost 2% swing and closed with gain. This week euro successfully closed above its 6-month average, which is bullish signal. From medium to long-term view, EURINR supports are now 83.55 which is 6 month average level and below it 81.45 which is 12 month average level. On upside 84 and 86 are strong supply zones for euro.
On indicators, CCI is -52 and off the lows while CCI is +51 and heading towards +100 marks.
Investors above 81.45 use major correction to accumulate longs and expect targets of 84 rupees and then 86 rupees in upcoming weeks.