EURINR Oct futures opened slightly lower and made an intraday low of 73.44. Prices consolidated in the range of 73.45- 73.65 for the whole session. Prices have fallen after breaking below strong rising trend line support and are expected to fall further towards next strong supports placed at 73.05 and 71.75 levels. On the Higher side strong resistances are placed at 73.75 and 74 levels.
Euro is trading at 1.1018 , rebounding from lower levels as the US dollar retreated . Economic data reported yesterday was in line with expectations with the inflation for the month of September being reported at 0 . 4 % . Focus would be on the European monetary policy meeting on Thursday and we can expect the Eurusd pair to hover near the 1 . 10 mark going into the event.
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