SELL USDINR APR @ 94.3 SL 94.5 TGT 94.1-93.9 - Kedia Advisory
USDINR
SELL USDINR APR @ 94.3 SL 94.5 TGT 94.1-93.9.
Observations
USDINR trading range for the day is 93.83-94.67.
Rupee hovered near to 94, steadying near record low levels, as oil prices pulled back on reports of a US ceasefire proposal to Iran.
Persistent foreign portfolio outflows and upcoming NDF and fiscal-year-end maturities continued to generate strong dollar demand.
India’s reliance on oil imports, along with lingering concerns over damaged Gulf energy infrastructure, kept underlying pressures elevated.
EURINR
SELL EURINR APR @ 109.7 SL 110 TGT 109.4-109.1.
Observations
EURINR trading range for the day is 108.84-110.22.
Euro gains as optimism grew over a potential resolution to the Middle East conflict following reports that the US was pursuing talks with Iran.
Eurozone Manufacturing PMI rose to 51.4 in March 2026 from 50.8 in February, better than forecasts of 49.4, flash estimates showed.
Eurozone Composite PMI declined to 50.5 in March 2026, down from 51.9 in February and below market expectations of 51.0.
GBPINR
SELL GBPINR APR @ 126.7 SL 127 TGT 126.4-126.1.
Observations
GBPINR trading range for the day is 125.98-126.86.
GBP held firm on hopes of de-escalation in the Middle East conflict, with reports indicating Washington proposed a 15-point peace plan.
The annual inflation rate in the UK steadied at 3% in February 2026, the same as in January and in line with expectations.
UK’s annual core inflation rate stood at 3.2% in February 2026, compared with market estimates and January's reading of 3.1%.
JPYINR
SELL JPYINR APR @ 60 SL 60.25 TGT 59.75-59.5.
Observations
JPYINR trading range for the day is 58.37-60.95.
JPY steadied as oil prices retreated on hopes for a Middle East ceasefire, easing pressure on Japan’s import-dependent economy.
JPY yen also drew support from concerns over potential intervention in currency markets
Japanese officials signaled the government’s readiness to take all necessary steps to defend the currency.
