ICICI Direct, The Euro appreciated by almost 2% on Thursday amid weak US dollar index and rise in risk appetite in domestic markets.
November 11, 2022 / 09:59 AM IST
Rs 56.6 lakh in cash has been recovered from the accused. (Representative image)
ICICI Direct’s currency report on EURINR
The Euro appreciated by almost 2% on Thursday amid weak US dollar index and rise in risk appetite in domestic markets. Further, the Euro was supported after ECB policymaker Joachim Nagel said the European Central Bank should let long-term borrowing costs rise also, as it increases short-term interest rates to fight runaway prices in the eurozone • The Euro is expected to trade with a positive bias amid weakness in US dollar and optimistic domestic market sentiments. Additionally, the single currency may rise on expectations of rise in German CPI data, which may allow ECB to aggressively hike interest rates further. EURUSD is likely to surpass the hurdle of 1.0260 to continue its upward trend towards the level of 1.0325. EURINR is expected to rise towards the level of 82.20.
Intra-day strategy
| EURINR Nov futures contract (NSE) | |
| Buy EURINR in the range of 81.80-81.82 | |
| Target: 82.20 | Stoploss: 81.54 |
| Support: 81.54/81.40 | Resistance: 82.20/82.30 |
For all Currency report, click here
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11112022 – currency
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