14 June 2023: ICICI Direct Buy EURINR with a target of 92.40
ICICI Direct, Euro may hold gains amid dollar weakness. The hawkish June ECB minutes increased the likelihood of more interest rate hikes.
Money Poise
ICICI Direct's currency report on EURINR
As the dollar declines, the euro is likely to continue its upward trend. The minutes from the European Central Bank's (ECB) hawkish meeting in June have bolstered expectations for further rate hikes. The odds favour an increase in EURUSD prices towards the 1.1270 level as long as the pair keeps trading above 1.1160. The EUR/NZD pair could find buying interest near 91.70, allowing for a push higher towards the 92.40 zone.
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