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Mtechtips MCX-SX EURINR INTRADAY trading analysis 30-08-2016

Monday, August 29, 2016 22:50
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Mtechtips MCX-SX EURINR INTRADAY trading analysis 30-08-2016

MTECHTIPS Euro traded at two-week low Monday as dollar strengthened after comments by US Federal Reserve Chair Janet Yellen and other officials raised the possibility for a September rate hike.EUR-INR witnessed its biggest intraday fall since 27 July 2016 and settled at 75.457, down -0.81%. Near term trend is expect to remain bearish and a break below 75.30 could result fall towards 75.00-74.80 Else, failure of the breakdown only could result recovery towards 75.85-76.10 again.



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