• FxWirePro: Euro rises remarkably against Indian Rupee after strong services PMI data, hits fresh 5 – month high at 80.56 Mark

    Source: FxWire Pro - Technicals / 06 Jan 2020 04:24:47   America/New_York

    • EUR/INR is currently trading around 80.53 mark.
       
    • It made intraday high at 80.54 and low at 80.06 mark.
       
    • Intraday bias remains bullish for the moment.
       
    • A daily close above 80.32 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 79.59 will take the parity down towards key supports around 78.34, 77.73, 77.12, 76.82 and 76.12 marks respectively.
       
    • Spain’s services PMI stands at 54.9 vs 53.2 previous release.
       
    • Italy’s services PMI stands 51.1 vs 50.4 previous release.
       
    • France’s services PMI stands at 52.4 vs 52.4 previous release.
       
    • Germany’s services PMI stands at 52.9 vs 52.0 previous release.
       
    • Euro Zone’s final services PMI stands at 52.8 vs 52.4 previous relase.

    We prefer to go long on EUR/INR around 80.40, stop loss at 80.00 and target of 80.86/81.17.

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