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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