Mtechtips MCX-SX EURINR INTRADAY trading analysis 25-01-2016

Mtechtips MCX-SX EURINR INTRADAY trading analysis 25-01-2016

Mtechtips EUR inched up on Tuesday extending gains from the previous session, ahead of the Federal Reserve's first interest rate decision on Wednesday afternoon since the U.S. central bank abandoned a seven-year zero interest rate policy at a historic meeting last month. After hitting a low of 73.35, EURINR saw a pullback and tested 73.83 before closing at 73.74. Now short term consolidation in between 73.20-74.00 is expected to take place in EURINR before next bearish move. Today, EURINR witnessed 40 paisa positive opening and trading at 74.1650. Trend expect to remain volatile for a day. On the upside, strong resistance is seen at  74.50 sustain trade above only will expect t test 74.80 which could attract selling activities with stop loss above 75.00 .

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