- EUR/INR is currently trading around 83.53 mark.
- It made intraday high at 84.14 and low at 83.41 mark.
- Intraday bias remains slightly bearish for the moment.
- A daily close above 85.21 will drag the parity up towards key resistance around 85.45, 85.88, 86.24, 87.00 and 87.52 marks respectively.
- Alternatively, a sustained close below 83.05 will take the parity down towards key supports around 81.89, 80.28, 77.62, 77.12, 76.82 and 76.12 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Euro zone will release refinancing rate decision around 1245 GMT.
We prefer to go long on EUR/INR only above 84.30, stop loss at 83.00 and target of 85.21/85.88.
