Sell EURINR Jul 2023 @ 90.6 SL 90.8 TGT 90.3-90.1 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 81.69-82.13
Rupee snapped a three-day winning streak as RBI likely intervened through dollar purchases.
The one-year dollar-rupee implied yield rose four bps to 1.73%, amid the RBI's possible intervention in the forwards market.
Investors are awaiting cues from Fed policy decision where a 25 basis point rate hike is already factored in.
BUY USDINR Jul 2023 @ 81.75 SL 81.62 TGT 81.9-82
EURINR
Observations
EURINR trading range for the day is 90.45-91.01
Euro slid after activity data in key economies came in much softer than expected
PMI data that showed eurozone business activity shrank much more than expected in July.
Investors expect both the ECB and Fed to raise rates by 25 basis points
SELL EURINR Jul 2023 @ 90.6 SL 90.8 TGT 90.3-90.1
GBPINR
Observations
GBPINR trading range for the day is 104.77-105.51
GBP remained in range as traders keep their attention on Britain's floundering economy.
The Confederation of British Industry surveys total order book balance rose six points to -9.0 in July 2023
Traders are predicting a 60% chance of a 25 bps hike from the BoE at its next meeting on August 3, and a 40% chance of a larger 50 bps hike.
BUY GBPINR Jul 2023 @ 105 SL 104.75 TGT 105.35-105.65
JPYINR
Observations
JPYINR trading range for the day is 58.08-58.48
JPY dropped as the Bank of Japan is widely expected to keep its policy of ultra-low interest rates
BOJ Governor said there was still some distance to sustainably and stably achieve the central bank’s 2% inflation target
Data showed that Japan's annual headline and core inflation rates both accelerated slightly to 3.3% in June
BUY JPYINR Jul 2023 @ 57.8 SL 57.6 TGT 58.05-58.2
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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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EURINR trading range for the day is 81.13-82.35 - Kedia Advisory
![Sell GBPINR DEC @ 106 SL 106.3 TGT 105.7-105.5. - Kedia Advisory](https://portfolio.investmentguruindia.com//uploads/news/Kedia Currency.jpg)
![The pair is likely to trade with negative bias and any pullback near immediate resistance of 83.90 level - Monarch Networth Capital](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/03/9abf97a8af203588aae0ddd9b2012ddb.jpg)
![USDINR pair traded with positive bias and managed to sustain above upward sloping trend - Monarch Networth Capital](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/09/d11e72bd60f9155c6722607091e1bf2b.jpg)