SELL USDINR APR @ 94.25 SL 94.5 TGT 94-93.75 - Kedia Advisory
USDINR
SELL USDINR APR @ 94.25 SL 94.5 TGT 94-93.75.
Observations
USDINR trading range for the day is 93.95-94.41.
Rupee ended flat as dollar sales by state-run banks cushioned the pressure from higher oil prices on the currency after the U.S.-Iran talks stalled.
India's foreign exchange reserves rose to $703.31 billion as of April 17, compared with $700.95 billion a week earlier.
Investor focus this week will be on a slew of central bank meetings to gauge the impact of the war on prices and rate outlooks
EURINR
SELL EURINR APR @ 110.6 SL 110.9 TGT 110.2-110.
Observations
EURINR trading range for the day is 110.15-111.21.
Euro steadied as investors weighed the outlook for renewed US–Iran negotiations amid mixed signals.
Germany’s GfK Consumer Climate Indicator dropped to –33.3 heading into May 2026, marking the weakest level since February 2023.
Investors are also focusing on the upcoming April ECB policy meeting, where policymakers are widely expected to maintain interest rates
GBPINR
SELL GBPINR APR @ 127.9 SL 128.2 TGT 127.6-127.3.
Observations
GBPINR trading range for the day is 127.22-128.24.
GBP gains with some strong UK retail data and traders kept an eye on stalled peace negotiations between the U.S. and Iran.
British consumer morale slid this month to its lowest since October 2023 as households ramped up their expectations for price rises.
Traders are betting on at least one 25-basis-point rate increase from the Bank of England this year
JPYINR
SELL JPYINR APR @ 59.1 SL 59.3 TGT 58.9-58.7.
Observations
JPYINR trading range for the day is 19.65-19.65.
JPY steadied as markets positioned for the upcoming Bank of Japan policy meeting, where interest rates are widely expected to remain unchanged.
The central bank may lift its inflation outlook while lowering its growth forecast to reflect the economic impact of the ongoing Middle East conflict.
BOJ Governor Kazuo Ueda will face the challenge of signaling their determination to keep normalizing monetary policy to support the yen.
