USDINR trading range for the day is 82.99-83.23 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 82.99-83.23.
Rupee remained in range aided by the softness in U.S. treasury yields and some easing in the dollar
Indian 10-year government bond yield eased to the 7.21% level after touching a four-month high of $7.25 on August 17th
Consumer inflation soared to 7.4% in July, above the RBI’s upper target threshold of 6%.
BUY USDINR AUG @ 83.05 SL 82.9 TGT 83.22-83.35.
EURINR
Observations
EURINR trading range for the day is 90.18-90.68.
Euro dropped amid deepening concerns of prolonged hawkish monetary policy from Fed.
Data showed further signs of weakness for the euro area economy
Industrial output jump gives euro zone growth small boost
SELL EURINR AUG @ 90.6 SL 90.8 TGT 90.32-90.18.
GBPINR
Observations
GBPINR trading range for the day is 105.3-106.2.
GBP seen pressure as traders factored in higher BOE interest rate expectations in light of recent inflation and wage data.
Data showed British wage growth at a record high, and the latest inflation figures showed core prices coming in hotter than expected.
Traders are predicting around an 88% chance of a 25 basis point hike from the BoE at its next meeting on Sept. 21.
SELL GBPINR AUG @ 106.2 SL 106.5 TGT 105.88-105.68.
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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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The dollar ascended close to a two-decade high on Tuesday - GEPL Capital
![USDINR is witnessing a pullback from the important support zone of 81.70 after a meaningful correction - Swastika Investmart](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/07/f8965f5fc9d4baa51220ce7effe5b601.jpg)
![The EURINR futures pair has support at 88.70 levels whereas resistance is placed at 89.20 levels - Monarch Networth Capital](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/06/3695f0fb8ff6d8232c4a68dd58093504.jpg)
![The USD/INR futures pair has support at 81.80 levels whereas resistance is placed at 82.10 levels - Monarch Networth Capital](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/07/0426f57dc3315aa979cd74fae6375736.jpg)