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Mtechtips MCX-SX EURINR INTRADAY trading
analysis 03-08-2016
MTECHTIPS
The euro witnessed its
first gain in a month on Tuesday while a cut in Australian interest rates
failed to weaken the Australian dollar as the fallout of poor GDP data
continued to weigh on its U.S. equivalent.EURINR failed to test 74.60
predicated downside level, and after breaching the resistance 75.10 tested
75.1650 levels A breakout of 38.2% Fibonacci Retracement level and weakness in
dollar index is expect to support momentum upside move towards 75.55-75.70 in
EURINR in day to come.On the other hand, immediate support is seen at 74.80
below will expect to test 74.65-74.50.
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