Euro vs Indian Rupee stays under pressure as bearish technical structure dominates

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Euro vs rupee slides 0.50% today

Highlights

EUR/INR trades below all key moving averages, confirming sustained bearish pressure across short, medium, and long-term trends.
Momentum indicators including MACD, ADX, RSI, CCI, and BBP all support a strong sell bias, with RSI and BBP near oversold levels.
The pair last traded at ₹105.9665 and is expected to remain in a ₹105.1984 to ₹106.7346 range over the next five trading days, with a high probability of downward movement.

Anton Kharitonov, expert at Traders Union, observes persistent bearish momentum in EUR/INR. He sees the pair trading under critical moving averages and notes negative signals across multiple technical indicators. Absence of supportive news further weakens sentiment, increasing downside risk. Critical support near ₹105.1984 is now in focus, with little hope for swift recovery. "Current structure favors sellers, and I see limited justification for any bullish bets at these levels," Kharitonov concludes.

Viktoras Karapetjanc, expert at Traders Union, notes the lack of fresh news but remains focused on broader macro opportunities. He acknowledges short-term technical weakness but sees potential for recovery if key resistance at ₹106.7346 is reclaimed. Karapetjanc believes volatility offers a window for agile traders. "I am confident that, with the right triggers, the market offers multiple bullish setups even in this corrective phase," he says.

Parshwa Turakhiya, analyst, highlights clear bearish sentiment dominating EUR/INR, with technicals pointing to persistent selling. The current range signals heightened risk, but an oversold RSI hints at possible short-term rebounds. Turakhiya advises watching intraday setups for quick trades around support and resistance. "Traders should look for tactical bounces but stay nimble, as sentiment remains fragile," the analyst notes.

Downside risk intensifies as bearish momentum and support are tested

EUR/INR remains below the 20-day, 50-day, and 200-day moving averages (₹107.5919, ₹109.1585, and ₹109.4446), indicating ongoing bearish pressure across short, medium, and long-term trends. The prevailing structure is confirmed by the MA-50 vs MA-200 bearish alignment, with the near-term ceiling at ₹106.63 and a floor at ₹105.9195. Momentum remains firmly negative, with the MACD and ADX both signaling sell. The RSI hovers near oversold at 30.42, while the CCI is also in sell territory. Stochastic RSI is neutral, and sellers dominate intraday momentum according to BBP, which is in oversold mode.

Previously it was reported that Euro vs Indian Rupee faced persistent downside momentum, with bearish technical signals dominating the outlook. The current analysis reinforces this view and highlights that downside risks remain elevated, making sustained trading below key moving averages a critical factor for near-term direction.

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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