Euro vs Indian Rupee stays under pressure as bearish technical trend structure continues

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Euro vs rupee slips 0.54% today

Highlights

EUR/INR is trading below key moving averages and is under persistent downward pressure across all timeframes.
Momentum and trend indicators confirm strong selling pressure, with no current signal of overbought or oversold conditions.
The pair trades at ₹104.926 with a projected 5-day range of ₹104.322 to ₹105.53 and a high probability of further downside.

Anton Kharitonov, expert at Traders Union, notes that EUR/INR remains under heavy downside pressure. He highlights the persistent bearish momentum, as the pair is trading below all major moving averages with sellers firmly in control. The absence of supporting news further weakens sentiment for a reversal. Kharitonov criticizes the neutral zone on oscillators, indicating that a lack of oversold readings does not justify renewed buying strength. "Given strong technical resistance and no fundamental catalysts, I expect further weakness toward ₹104.322 unless a clear reversal emerges," he states.

Viktoras Karapetjanc, expert at Traders Union, sees multiple opportunities despite current pressure on EUR/INR. He believes the consolidation phase offers tactical setups for nimble traders, especially as neutral oscillators allow for a quick shift if sentiment improves. Karapetjanc remains confident that a close above ₹105.4959 could reignite a bullish structure and open the door for further upswings. "With the right momentum and a decisive breach of resistance, market participants should watch for renewed upside potential in this pair," he says.

Jainam Mehta, market strategist, takes a tactical view on EUR/INR. He notes that support at ₹104.85 will be key for directional bias in the coming days. There is room for a contrarian setup if price stabilizes above this level, given neutral sentiment signals and historical volatility near these ranges. "I would monitor for a potential breakout above ₹105.4959 as a trigger for short-term tactical trades," Mehta suggests.

Bearish bias reinforced as moving averages align and momentum lags

EUR/INR is trading below its MA-20 (₹106.2979), MA-50 (₹107.9781), and MA-200 (₹109.406), indicating persistent downside pressure across short-, medium-, and long-term timeframes. The near-term support is at ₹104.85, with immediate resistance at ₹105.4959. The broader trend is confirmed as bearish by the alignment of the MA-50 below the MA-200. Momentum indicators reinforce this negative outlook, as both the MACD and ADX point to strong selling pressure. Meanwhile, the RSI, Stochastic RSI, and CCI are all in their neutral zones, suggesting oscillators are not signaling overbought or oversold conditions. Intraday bull/bear power is slightly positive, reflecting only a minor edge for buyers within a predominantly pressured session.

Earlier, analysts noted that persistent selling pressure and unfavorable technical signals were driving a bearish outlook for EUR/INR. The latest market action reinforces this trend, with traders advised to monitor the ₹104.85 level as a key support 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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