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Last Updated : Mar 03, 2017 10:45 AM IST | Source: Moneycontrol.com

Sell EURINR target of 70.48: Karvy

Karvy has come out with its currency report. According to the research firm, one can enter EURINR at 70.80 - 70.90; and Sell with a target of 70.48 with a stop loss of 71.02.


Karvy's research report on currency


EURINR


Euro is trading at 1.0515, after a brief attempt to break below the 1.05 level in the US session yesterday. Economic data was positive with the inflation rate touching the 2 % mark. Euro continued to be sold off despite this positive data as markets focused on the dollar strength and are pricing in the policy divergence between the US and EU. Retail sales and services PMI data from the EU and Germany are due to be reported today but the focus would be the dollar’s surge and we expect Euro to break the 1. 05 level today. 


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First Published on Mar 3, 2017 10:45 am
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