Mtechtips MCX-SX EURINR INTRADAY trading analysis 12-05-2016

Mtechtips MCX-SX EURINR INTRADAY trading analysis 12-05-2016
MTECHTIPS :- Euro snapped 6-day fall tracking a weak dollar as investors booked profits in their dollar holding after continuous rally in the greenback against the common currency.Sell strategy given around 76.35 was activated and EURINR tested 76.12 before closing at 76.1475 levels. A strong retracement from 23.8% of the previous fall is indicating for bearishness in EURINR. Near term support is seen at 75.95 and correction is expected to come below these levels only, else any rise towards 76.35-76.50 may attract huge selling activities.
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