FxWirePro: Indian rupee falls gradually against Euro, Euro zone’s final CPI data in focus

• EUR/INR is currently trading around 79.13 mark.
   
• It made intraday high at 79.16 and low at 78.96 mark.
   
• Intraday bias remains bullish for the moment.
   
• A daily close above 79.02 will drag the parity up towards key resistance around 79.32, 79.79, 80.32, 80.69, 80.86, 81.72 and 82.32 marks respectively.
   
• Alternatively, a sustained close below 78.75 will take the parity down towards key supports around 78.34, 77.73, 77.12, 76.82 and 76.12 marks respectively.
   
• Euro Zone current account stands at 33.9B vs 32.4B previous release (expected 34.3B)
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• Italy’s trade balance data stands at 4.87B vs 8.06B previous release (expected 7.22B).
   
• Euro Zone will release CPI as well as core CPI data around 1000 GMT.

We prefer to go long on EUR/INR around 79.08, stop loss at 78.75 and target of 79.32/79.79.