Sell EURINR; target of : 90.40 : August 17, 2023: ICICI Direct

ICICI Direct's currency report on EURINR

Euro ended on negative note amid strong dollar and weak global market sentiments. Meanwhile, improved economic data from Euro Area cushioned further downside. For today, EURUSD is likely to weaken towards 1.0800 level as long as it trades below 1.0930 level amid firm dollar and pessimistic global market sentiments. Market sentiments are hurt on concerns over more rate hike from US Fed and China's laggard economy. EURINR may face the hurdle near 90.60 level and weaken towards 90.15 level.

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