Sell EURINR MAY @ 111.75 SL 112.15 TGT 111.4-111.1 - Kedia Advisory
USDINR
SELL USDINR MAY @ 95.4 SL 95.7 TGT 95.1-94.8.
Observations
USDINR trading range for the day is 94.82-95.7.
Rupee slipped, pressured by heightened dollar demand from maturing non-deliverable forward positions and an uptick in oil prices.
India’s Manufacturing PMI came in at 54.7 in April 2026, revised down from the preliminary estimate of 55.9 but still up from 53.9 in the previous month.
Sentiment was also shaped by renewed security concerns after a tanker was struck by projectiles near the UAE coast.
EURINR
SELL EURINR MAY @ 111.75 SL 112.15 TGT 111.4-111.1.
Observations
EURINR trading range for the day is 111.17-112.69.
Euro gains as renewed enthusiasm around artificial intelligence boosted risk sentiment globally.
President Trump announced plans to guide ships through the Strait of Hormuz and signaled progress in US–Iran peace negotiations.
Euro Area GDP expanded by 0.8% from the previous year in the first quarter of 2026, below expectations of a 0.9% growth rate
GBPINR
SELL GBPINR MAY @ 129.2 SL 129.6 TGT 128.8-128.5.
Observations
GBPINR trading range for the day is 128.77-129.67.
GBP gains as investors digested BOE’s latest policy decision and a fresh surge in oil prices.
BoE holds rates at 3.75% in 8-1 vote; Huw Pill backed 25bps hike
Bailey signals “active hold” amid persistent energy inflation risks
JPYINR
SELL JPYINR MAY @ 60.8 SL 61.2 TGT 60.4-60.
Observations
JPYINR trading range for the day is 60.68-61.02.
JPY settled flat amid suspected government intervention to support the currency.
Japan Manufacturing PMI rose to 55.1 in April 2026, exceeding the flash estimate of 54.9 and accelerating from 51.6 in March.
Markets also considered the possibility that the US could coordinate with Japan in efforts to bolster the yen.
