EURINR look firm for the
day as we have seen EURUSD regained past week after Chinese 1Q’13 GDP severely
damaged the commodity bloc’s prospects for gains. On domestic front we have
USDINR dropped which had created the pressure on EURINR also but in today’s
session we have USDINR once again trying to regain from 54.00 level can bounce
till 54.34 level which can support EURINR, also looking to the hourly chart a
break above 18dma can test 50/100dma also that is near to 70.98 level. Meanwhile
we have seen bounce in EURUSD also from the 1.3045 level that can bounce till
1.3090/1.3100 level that again make EURINR to test near to 70.98/71.00 level in
today’s session.
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