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- EUR/INR is currently trading around 79.38 mark.
- It made intraday high at 79.66 and low at 79.34 mark.
- Intraday bias remains bearish for the moment.
- A daily close above 79.34 will drag the parity up towards key resistance around 79.79, 80.32, 80.69, 80.86, 81.72 and 82.32 marks respectively.
- Alternatively, a sustained close below 79.34 will take the parity down towards key supports around 79.15, 78.34, 77.73, 77.12, 76.82 and 76.12 marks respectively.
- Germany will release industrial production as well as trade balance data around 0700 GMT.
- Italy will release monthly unemployment rate at 0900 GMT.
We prefer to go short on EUR/INR only below 79.34, stop loss at 79.79 and target of 79.15/78.70.
