Euro vs Rupee price prediction: More gains ahead? EUR/INR tests key resistance

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Euro vs Rupee rises 0.51% today

Highlights

The U.S. is considering lifting sanctions on Iranian oil to help stabilize global energy markets and curb rising crude prices.
This potential policy shift aims to address the recent surge in oil prices through coordinated international action.
EUR/INR trades in a bullish structure near session highs, with technical indicators signaling overbought conditions and an expected consolidation range of ₹107.50–₹108.15.

Oil market policy shift tempers risk sentiment on coordinated U.S. action

On March 19, the United States Secretary of the Treasury confirmed that the U.S. is considering un-sanctioning Iranian oil as a coordinated measure to stabilize global energy markets and mitigate the recent surge in crude prices.

Overbought pressure intensifies as technical signals diverge at highs

Technically, the EUR/INR remains bullish, as it trades above all key moving averages — SMA-20, SMA-50, and SMA-200 — as well as the Ichimoku Kijun line (₹106.6510), which now serves as immediate support. However, momentum readings are mixed: while the ADX is neutral and relatively weak, the MACD on the daily chart signals a strong sell. Oscillators including RSI (60), Stoch RSI (100), and CCI (119) indicate overbought conditions, and BBP (1.42) shows buyers dominate intraday, while the Awesome Oscillator is neutral. The price is near session highs, and volatility is moderate, but divergent signals suggest both continued upside pressure and caution due to overstretched momentum.

Upside bias holds as price nears resistance and volatility narrows

In the short term, EUR/INR is likely to consolidate within the typical volatility band of ₹107.50 – ₹108.15, reflecting prevailing market conditions. Probability of further upside is high (over 80%), as indicated by the current technical setup and overbought momentum readings. A clear close above resistance at ₹108.15 could extend the rally towards new short-term highs, while a move below immediate support at ₹106.65 would indicate a corrective pullback toward the lower ₹107s.

Viktoras Karapetjanc, expert at Traders Union, sees EUR/INR in a strong bullish position above all major moving averages. He notes constructive market sentiment, supported by global macro developments like US consideration of un-sanctioning Iranian oil to stabilize energy markets. While some momentum signals indicate caution due to overbought conditions, Karapetjanc believes the technical configuration still favors further gains. Upside risk prevails unless immediate support at ₹106.65 is lost. "I see continued upside in EUR/INR as supportive macro factors and strong price action keep buyers in control."

Earlier, analysts noted that the Euro vs Rupee pair was exhibiting an overall bullish trend despite encountering some resistance and mixed technical signals. The latest price action and strong positioning above all key moving averages confirm this bullish momentum, with traders now advised to monitor for a decisive break above ₹108.15 as a catalyst for further gains.

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

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.