SELL USDINR APR @ 93.2 SL 93.5 TGT 92.9-92.7 - Kedia Advisory
USDINR
SELL USDINR APR @ 93.2 SL 93.5 TGT 92.9-92.7.
Observations
USDINR trading range for the day is 92.81-93.61.
Rupee gained second consecutive week, supported by flows from the unwinding of residual arbitrage positions, as well as a plunge in crude oil prices.
ADB raised India's economic growth projection to 6.9 per cent for financial year 2026, citing strong domestic demand and lower tariffs imposed by US.
Inflows into Indian equity mutual funds rose 56% to an eight-month high of 404.5 billion rupees ($4.36 billion) in March.
EURINR
SELL EURINR APR @ 109 SL 109.3 TGT 108.6-108.2.
Observations
EURINR trading range for the day is 108.85-109.55.
Euro firmed supported by cautious optimism that the conflict could be nearing an end.
Germany’s annual inflation rate climbed to 2.7% in march 2026, confirming preliminary estimates and accelerating from 1.9% in February.
Eurozone retail sales edged down 0.2% month-on-month in February 2026, following stagnation in January and aligning with market forecasts.
GBPINR
SELL GBPINR APR @ 125.2 SL 125.6 TGT 124.7-124.4.
Observations
GBPINR trading range for the day is 124.87-125.51.
GBP gain as market attention remained fixed on the fragile US-Iran ceasefire and the high-stakes negotiations set for Pakistan this weekend.
Bank of England's Bailey says markets still ahead of themselves in pricing rate hikes
The RICS UK Residential Market Survey showed the house price balance declined to -23% in March 2026 from -14% in January
JPYINR
SELL JPYINR APR @ 59.5 SL 59.75 TGT 59.2-59.
Observations
JPYINR trading range for the day is 59.41-59.47.
JPY gains drawing some support as a two-week US-Iran ceasefire triggered a sharp decline in oil prices and eased stagflation concerns.
Japan’s producer prices rose 2.6% yoy in March 2026, quickening from a marginally revised 2.1% increase in the prior month.
Japan’s bank lending rose 4.8% yoy in March 2026, slightly accelerating from 4.5% in the prior month and marking the strongest growth since April 2021.
