SELL USDINR APR @ 93.9 SL 94.1 TGT 93.7-93.5 - Kedia Advisory
USDINR
SELL USDINR APR @ 93.9 SL 94.1 TGT 93.7-93.5.
Observations
USDINR trading range for the day is 93.37-94.09.
Rupee fell as optimism about an end to the Iran war remained muted despite the U.S. indefinitely extending a ceasefire.
Moody’s Ratings slashed India’s FY2027 growth forecast to 6% from 6.8% earlier, citing weaker private consumption amid higher energy prices.
The Reserve Bank of India has issued a cautionary statement regarding escalating inflation rates.
EURINR
SELL EURINR APR @ 110.25 SL 110.6 TGT 109.75-109.5.
Observations
EURINR trading range for the day is 109.95-110.55.
Euro climbed as cautious optimism grew over a potential Middle East resolution following the extension of the ceasefire.
US President Trump indefinitely prolonged the ceasefire with Iran, despite stalled talks and the ongoing US naval blockade in the Strait of Hormuz.
Expectations for ECB rate hikes have been slightly scaled back, though two increases are still anticipated this year.
GBPINR
SELL GBPINR APR @ 126.8 SL 127.2 TGT 126.4-126.
Observations
GBPINR trading range for the day is 125.99-127.55.
GBP gains buoyed by hopes of easing tensions in the Middle East and as investors analyzed the latest UK inflation figures.
British consumer price inflation rose to an annual rate of 3.3% in March from 3.0% in February.
The British central bank is expected to keep borrowing costs on hold on April 30 at the end of its next scheduled MPC meeting.
JPYINR
SELL JPYINR APR @ 59 SL 59.2 TGT 58.8-58.5.
Observations
JPYINR trading range for the day is 58.92-58.92.
JPY steadied as investors weighed the Bank of Japan’s policy outlook ahead of its meeting next week.
Japan’s trade surplus increased to JPY 667.0 billion in March 2026 from JPY 529.8 billion in the same month a year earlier.
Japan's exports rose 11.7% yoy to a record JPY 11,003.3 billion in March 2026, beating market forecasts of 11%.
