Mtechtips MCX-SX EURINR INTRADAY trading analysis 26-07-2016

Mtechtips MCX-SX EURINR INTRADAY trading analysis 26-07-2016
MTECHTIPS The euro was able to recover from the day low on upbeat German data. However upside move remain limited as demand for the greenback remained broadly supported ahead of this week’s policy meeting by the Federal Reserve. After hitting a low 73.7475, EURINR saw pullback towards 74.04 and settled at 74.04. Intraday price action resulted in formation of long bullish candle stick which is indicating for momentum upside move towards 74.60-74.70.On the downside, EURINR would need to trade below 73.70 in order to test 73.25-73.00.
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