Euro Rupee daily chart analysis
Euro rupee pair on last trading session closed at 84.86 with gain. On daily chart, EURINR has taken support at its 3-month average and moving upside. For next week, EURINR outlook is bullish and it remains “buy”. On downside 84 and 83.1 are short term supports while on upside expect strong resistance at 85 and 86.6 levels.
Both resistance zones will be targets with strict stop loss below 3-month average of 84.45. EURINR indicators are bullish and forming bullish divergences suggesting uptrend is resuming after correction.
Euro Rupee weekly chart analysis
Euro rupee this week closed with gain. After last weeks, correction this week positive closing suggests euro is resuming uptrend and we may expect higher levels in next week. On weekly chart, EURINR major support zones are 83.2 and then 82 while on upside expect strong weekly closing basis resistances at 86 and 88.5. EURINR weekly chart indicators are mixed.
Investors above 83.2 on weekly closing basis keep long view for EURINR and expect 86-88 levels in upcoming time.