- EUR/INR is currently trading around 80.0748 mark.
- It made intraday high at 80.49 and low at 80.06 mark.
- Intraday bias remains bearish for the moment.
- A daily close above 80.37 will drag the parity up towards key resistance around 80.69, 80.86, 81.72 and 82.32 marks respectively.
- Alternatively, a sustained close below 80.08 will take the parity down towards key supports around 79.78, 79.15, 78.34, 77.73, 77.12, 76.82 and 76.12 marks respectively.
- German factory orders stands at -1.3 pct vs 0.2 pct previous release (expected 0.2).
- France’s trade balance stands at -5.6B vs -4.9B previous release (expected -5.0B).
We prefer to go short on EUR/INR around 80.15, stop loss at 80.50 and target of 79.15.
