EURINR Nov futures opened lower with gap and prices fel for most of the session and took support near last week’s low around 72.20 level. Prices recovered for the remaining session and closed around 72.46 level. Prices have been trading in the sideways down trend pattern and are expected to remain bearish for the short term till next strong supports placed at 71.95 and 71.70 level Strong resistances are placed at 72.70 and 72.90 levels.
Euro is trading at 1.0658, appreciating against the US dollar in the Asian session and markets started booking the profits on the long dollar trades. Uncertainty in the political scenario of Europe remains as Italy moves closed to the referendum on the 4th. ECB chairman Draghi is scheduled to speak today and is expected to outline the impact of Brexit. Euro continues to remain a sell on rallies for the day.
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