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Forex

Euro Surges Against Indian Rupee Amid High Oil Prices and Strong Dollar Demand

Guavy AI Editorial Team
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EUR USD
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The Indian rupee has fallen to its lowest level since late July against the euro due to high oil prices and strong demand for the US dollar. The Reserve Bank of India intervened to slow down the rupee's decline and reduce volatility in the currency market.

EUR/INR is trading at ₹111.5421, with a daily gain of 0.61%. The pair remains above its key moving averages, indicating a supportive environment across multiple timeframes.

Technical indicators suggest strong buyer control and overbought conditions. However, momentum readings are stretched, suggesting limited immediate upside. EUR/INR is expected to consolidate within a range of ₹110.9844 to ₹112.0998 over the next 2-3 trading days.

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