SELL USDINR APR @ 93.5 SL 93.7 TGT 93.3-93.1. - Kedia Advisory
USDINR
SELL USDINR APR @ 93.5 SL 93.7 TGT 93.3-93.1.
Observations
USDINR trading range for the day is 93.24-93.66.
Rupee remained range-bound as investors stay on the sidelines ahead of US Trump’s ultimatum to Iran.
India's services sector saw its slowest growth in 14 months during March.
In March 2026, India's manufacturing sector hit a snag with its lowest growth in nearly four years.
EURINR
SELL EURINR APR @ 108.5 SL 108.8 TGT 108.2-107.8.
Observations
EURINR trading range for the day is 107.97-108.67.
Euro steadied as markets are focused on Trump’s upcoming deadline for Iran to reach a deal and reopen the Strait of Hormuz.
Eurozone Manufacturing PMI rose to 51.6 in March 2026, up from both the preliminary estimate of 51.4 and February’s 50.8.
Spain Services PMI rose to 53.3 in March 2026 from 51.9 in February, defying expectations of a slowdown to 50.8.
GBPINR
SELL GBPINR APR @ 123.9 SL 124.2 TGT 123.5-123.2.
Observations
GBPINR trading range for the day is 123.28-124.46.
GBP dropped as uncertainty over the Iran conflict and surging oil prices weighed on markets.
UK Manufacturing PMI dropped to 51.0 in March of 2026 from 51.7 in the previous month, revised downwards from the preliminary estimate of 51.4.
The GDP in the UK expanded 1% year-on-year in the last three months of 2025, the smallest growth since Q1 2024 and following a 1.3% rise in Q3.
JPYINR
SELL JPYINR APR @ 58.5 SL 58.7 TGT 58.3-58.1.
Observations
JPYINR trading range for the day is 58.99-59.33.
JPY weakened amid a strong US dollar and elevated oil prices amid the ongoing Middle East conflict.
Japan’s foreign reserves fell by $35.97 billion to $1.37 trillion in March 2026, marking the lowest level since December 2025.
Household spending in Japan dropped 1.8% yoy in February 2026, worsening from a 1.0% drop in the prior month.
