Euro vs Indian Rupee price edges higher as asset buying pressure builds

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Euro vs rupee rises 0.58% today

Highlights

EUR/INR trades in a short-term bullish channel above key averages but faces intermediate resistance near 109.29.
Technical indicators are mixed, with sellers holding momentum and momentum signals diverging between short-term buyers and medium-term bearish trends.
Expected five-day range is 108.319 to 109.673, with probabilities slightly favoring a downside move and overall sideways bias.

Anton Kharitonov, expert at Traders Union, views the recent EUR/INR bounce with skepticism. He notes the lack of fresh news as a concern for sustained bullish momentum. Technical signals show resistance prevailing, with bearish momentum confirmed by MACD and ADX indicators. Kharitonov highlights that intraday gains have struggled to clear key moving averages and resistance near ₹109.2869. "I see any upside as temporary — the lack of positive macro or demand catalysts means sellers are likely to regain control soon," he warns.

Viktoras Karapetjanc, expert at Traders Union, maintains a confident outlook for EUR/INR. He emphasizes the supportive alignment of long-term moving averages and sees current price action as building a foundation for future gains. Despite some near-term volatility, Karapetjanc believes the medium-term bullish structure remains intact. He expects the upward corridor to offer multiple trading opportunities as resistance levels get tested. "Further growth is likely if the pair pushes above ₹109.2869 — I remain optimistic about momentum shifting in favor of buyers," he states.

Parshwa Turakhiya, analyst, sees EUR/INR stuck in a tug-of-war between buyers and sellers. He points to mixed momentum signals and recent volatility as signs of indecision. Turakhiya highlights a potential for short bursts higher if intraday strength persists, but warns that an inability to break key resistance may trigger a sharp pullback. "I suggest watching the ₹109.2869 and ₹108.6882 levels closely — whichever side breaks first will dictate the coming trend," he advises.

Mixed momentum as long-term bullish structure meets near-term selling

EUR/INR trades above the 20-day moving average (₹108.6882) and the 200-day moving average (₹107.9984), but remains below the 50-day (₹110.2525), reflecting a short-term bullish bias that is capped by unresolved intermediate pressure. The pair faces immediate resistance at ₹109.2869, with support at the 20-day average; the medium to long-term trend structure is supported by the bullish alignment between the 50- and 200-day averages. The Ichimoku Kijun at ₹109.3915 acts as additional resistance. MACD and ADX show sellers have momentum, signaling strong sell and confirming a soft bearish trend. RSI at 45 forecasts sell, while Stochastic RSI shows overbought conditions and the CCI is neutral. Bull/Bear Power (BBP) at 0.4481 indicates intraday buying dominance, but overall momentum signals are mixed or negative. After opening with a downside gap of -0.25%, the pair rebounded by ₹0.6267 or 0.58% and is now near its highs. Intraday volatility stands at 1.11%, highlighting late-session strength from buyers in the face of conflicting momentum signals.

Earlier, analysts noted that EUR/INR maintained a constructive trend supported by central bank intervention and favorable technical momentum. However, with current indicators turning mixed and volatility increasing, traders should closely monitor for a breakout above ₹109.2869 or a breakdown below ₹108.6882 as catalysts for the next directional move.

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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