• FxWirePro: Euro trades marginally lower against major peers ahead of ecb’s main refinancing rate decision

    Source: FxWire Pro - Technicals / 15 Mar 2020 10:28:21   America/New_York

    • 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.

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