Euro vs Indian Rupee price edges lower amid rising selling pressure

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Euro vs rupee slides 0.87% today

Highlights

EUR/INR remains in a medium-term uptrend, trading well above its 200-day moving average despite short-term weakness.
Technical indicators are strongly bullish on the weekly timeframe, with most signals supporting further gains in the coming sessions.
Expected five-day trading range is ₹109.84 to ₹111.75, with major resistance at ₹111.75 and key support at ₹109.84.

Anton Kharitonov, expert at Traders Union, notes a fragile technical setup for EUR/INR. The pair trades below the 20-day moving average and failed to hold intraday gains, closing near session lows. Momentum is conflicted, with mixed oscillator signals undermining the daily MACD's buy signal. Absence of supporting news adds to uncertainty, while overbought readings in buyer strength suggest risk of a reversal. "Traders should remain defensive — a close below ₹109.84 could quickly trigger renewed selling pressure."

Viktoras Karapetjanc, expert at Traders Union, sees opportunity in the medium-term structure for EUR/INR. He highlights that the price stays clearly above its 50-day and 200-day moving averages, reflecting underlying strength. The analyst is confident in the technical foundation, with weekly indicators backing upside potential. Karapetjanc expects a breakout above ₹111.75 could unlock new bullish momentum. "The bullish structure remains intact — I expect further growth as long as the medium-term trend holds."

Bullish medium-term trend intact amid mixed momentum signals

EUR/INR remains above its 50-day moving average (₹110.3674) yet below the 20-day (₹111.6040), indicating a range-bound short-term outlook but a medium-term bullish structure with the price still notably above the 200-day moving average (₹107.0724). The Ichimoku Kijun level at ₹111.7321 acts as immediate dynamic resistance. Momentum indicators are mixed: the daily MACD issues a Strong Buy signal and the ADX indicates continuing uptrend potential, while oscillators including the RSI, Stochastic RSI, and CCI signal neither overbought nor oversold conditions. Bull/Bear Power reflects buyer dominance, although with an overbought outlook suggesting caution as price trades near intraday lows following a downside gap at the open.

Earlier, analysts noted that EUR/INR maintained a broadly bullish technical structure, supported by ongoing upward momentum and consolidation signals. The current analysis reinforces this view with a stronger buy bias from key weekly indicators, highlighting that a sustained move above the ₹111.75 resistance could trigger renewed upside momentum in the near term.

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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