Mtechtips MCX-SX EURINR INTRADAY trading analysis 31-08-2016

Mtechtips MCX-SX EURINR INTRADAY trading analysis 31-08-2016
MTECHTIPS Euro traded down for third straight session Tuesday tracking dollar strength against other major currencies after US Federal Reserve Chairperson Janet Yellen’s speech at Jackson Hole increased fears of a near-term Fed rate hike even as investors await the release of US jobs report for August .EURINR extended its fall for second consecutive day and after breaching the support 75.30 settled at 75.23 levels. Today, EURINR expect to remain bearish as it broke crucial support 75.30 and may test 75.00-74.80 very soon.On the upside, immediate resistance is seen at 75.80-76.10.
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