ICICI Direct's currency report on EURINR
The Euro edged higher by 0.50% on Tuesday amid weak US dollar and rise in German 10 year bond yields. Further, ECB President Lagarde said, “It is unlikely that in the near future the central bank will be able to state with full confidence that peak rates have been reached • The Euro is likely to trade with a positive bias for the day amid rise in German bond yields and hawkish comments from ECB President Lagarde. EURUSD is likely to break the level of 1.0970 to continue its upward trend towards the level of 1.1000. EURINR is likely to trade in upward trend towards the level of 90.20.
Intra-day strategy
| EURINR July futures contract (NSE) | |
| Buy EURINR in the range of 89.90-89.91 | |
| Target: 90.20 | Stop Loss: 89.70 |
| Support: 89.70/89.60 | Resistance: 90.20/90.30 |
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
