Euro vs Indian Rupee slides slightly after persistent downside risk shown by bearish technical signals

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Euro vs rupee slides 0.54% today

Highlights

EUR/INR trades below key short-, medium-, and long-term moving averages, indicating persistent downward pressure across all timeframes.
Momentum indicators remain strongly bearish, with oversold conditions and no sign of reversal, as sellers dominate price action.
EUR/INR is expected to consolidate within ₹104.6842 to ₹107.1833 over the next five days, with a high probability of further declines.

Anton Kharitonov, expert at Traders Union, highlights the persistent bearish momentum in EUR/INR. He notes that the pair remains under strong technical pressure, with all major moving averages signaling ongoing weakness. Oversold readings from the RSI and CCI, combined with a negative MACD and persistent selling, reinforce downside risk. The absence of supportive news further limits recovery chances and magnifies vulnerability. "I see little reason for optimism here — as long as sellers dominate and no new catalysts emerge, the EUR/INR is likely to probe lower levels."

Viktoras Karapetjanc, expert at Traders Union, observes that despite the recent decline, EUR/INR’s long-term bullish structure remains intact. He stresses the underlying uptrend signaled by the MA-50 vs MA-200 alignment and sees the current sell-off as a technical correction within a broader positive outlook. Karapetjanc highlights that oversold conditions could present attractive entry setups for forward-looking traders. "A sustained move above ₹106.178 can quickly revive bullish momentum — this market still offers multiple opportunities for growth."

Sholanke Dele, market strategist, believes sentiment remains negative for EUR/INR. He sees continued lack of news flow and prevailing risk-off mood as stifling any short-term recovery. Dele warns that bearish sentiment can worsen if the pair breaks support at ₹104.6842. "Sellers are firmly in control — without a shift in broader risk appetite, more downside is my base case."

Broad technical weakness amid strong bearish momentum signals

EUR/INR is trading below its 20-, 50-, and 200-day moving averages at ₹108.4266, ₹109.7537, and ₹109.4551, confirming sustained downward pressure across all major time frames. The near-term resistance is at ₹106.178 and support at ₹104.6842, while the long-term MA-50 vs MA-200 alignment still points to a bullish trend. Technical momentum is firmly bearish: the MACD and ADX both generate 'Sell' signals, and the RSI at 25.372, with the CCI at -190.189, indicate clear oversold conditions. The Bull/Bear Power is negative, and the Awesome Oscillator maintains a bearish tone. Intraday action saw the pair open nearly flat before moving down to ₹105.9337 with volatility at 0.39%, and sellers continue to dominate as prices hover near the session low.

Previously it was reported that EUR/INR faced persistent selling pressure and ongoing technical weakness, resulting in a broadly bearish outlook for the pair. The current analysis further reinforces this bearish scenario, with continued downside risk making the support at ₹104.6842 the critical level to monitor for potential further declines.

Source of Data: EUR Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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