JPYINR trading range for the day is 58.39-59.37 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 82.05-82.23
Rupee dropped as investors continued to assess the outlook for Federal Reserve monetary policy.
ADB keeps India's FY24 growth forecast at 6.4% banking on demand strength
Fed is widely expected to raise interest rates by 25 bps this month, possibly indicating the conclusion of their tightening measures.
BUY USDINR Jul 2023 @ 82.02 SL 81.88 TGT 82.18-82.32
EURINR
Observations
EURINR trading range for the day is 91.83-92.43
Euro dropped as signs of cooling inflation globally relieved some of the pressure on major central banks to keep raising interest rates.
ECB policymakers are adopting a more dovish tone on the rate outlook
The consumer price inflation rate in the Euro Area was confirmed at 5.5 percent in June 2023
SELL EURINR Jul 2023 @ 92.4 SL 92.6 TGT 92.18-92
GBPINR
Observations
GBPINR trading range for the day is 105.22-107.42
GBP dropped after data showed UK inflation slowed faster than expected in June
Consumer price inflation in the United Kingdom dropped to 7.9 percent in June 2023, marking the lowest level since March 2022
Factory gate prices of goods produced by UK manufacturers eased sharply to 0.1% year-on-year in June
SELL GBPINR Jul 2023 @ 106.6 SL 106.8 TGT 106.35-106.15
JPYINR
Observations
JPYINR trading range for the day is 58.39-59.37
JPY depreciates following dovish Ueda remarks
The threat of currency intervention also loomed over the market, with Japanese authorities stepping up verbal warnings
Japan manufacturers’ mood declines in July
SELL JPYINR Jul 2023 @ 59 SL 59.2 TGT 58.75-58.6
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
![Euro remained under pressure on Thursday amid weaker set of economic numbers from Euro zone - ICICI Direct](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/c49d5573f54fd1fe07309fbce5369a52.jpg)
![USDINR is trading near all time low and we might see some RBI intervention but as long as 82.80 - Tradebulls Securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/0732326f21b0692a41afc4432d1a7a56.jpg)
![GBPINR broke down below its 100 DMA yesterday and closed with a big bearish candle around 103.82 - Swastika Investmart](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/842b8e5254d53919452a82c7f06190bd.jpg)
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JPYINR pair, we will keep a close watch on the price action around this level - Axis Securities
![USDINR October futures contract has upward slopping channel resistance around 82.40 on the weekly chart - HDFC Securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/09/8c2b5bd6060ea196b1b7dc6ce717b152.jpg)
![GBP/USD Price Forecast – British Pound Continues to Grind Upwards - Swastika Investmart Ltd](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/01/d269a037392e14fea867c4bb7dfe0108.jpg)
![The USDINR futures pair has support at 81.90 levels whereas resistance is placed at 82.40 levels - Monarch Networth Capital](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/05/97f795f5e3de32ce521628f43d09af47.jpg)