Sell EURINR with a target of 90.00; ICICI Direct, January 30, 2024

Sell EURINR with a target of 90.00; ICICI Direct, January 30, 2024

Sell EURINR with a target of 90.00; ICICI Direct, January 30, 2024

ICICI Direct Monday saw a 0.20% decline in the euro as dovish remarks from ECB members stoked expectations that the institution may begin reducing interest rates as early as April.

ICICI Direct's EURINR currency report

Monday saw a 0.20% decline in the euro as dovish remarks from ECB members stoked expectations that the institution will begin reducing interest rates as early as April. Expectations of dismal GDP statistics in the Eurozone are expected to keep pressure on the EURUSD. The pair may trend towards 1.0810 as long as it trades below 1.0880. In February, the EURINR is probably going to go toward the lower end of the 90.00–90.70 trading range. It will open the doors to 89.80 below 90.00.