SELL USDINR APR @ 94.35 SL 94.55 TGT 94.15-94 - Kedia Advisory
USDINR
SELL USDINR APR @ 94.35 SL 94.55 TGT 94.15-94.
Observations
USDINR trading range for the day is 94.06-94.42.
Rupee slipped, hitting a four-week low amid rising crude oil prices as geopolitical tensions in the Middle East fuel supply concerns.
RBI has been selling dollars intermittently to limit volatility, aiming to slow the decline rather than defend a fixed level.
Equity withdrawals have remained strong, with cumulative outflows earlier this month briefly surpassing last year’s record annual exit of $18.79 billion.
EURINR
SELL EURINR APR @ 110.6 SL 110.9 TGT 110.2-110.
Observations
EURINR trading range for the day is 109.78-110.78.
Euro steadied as heightened Middle East tensions fueled concerns over rising inflation and the outlook for economic growth.
Investors remained cautious amid stalled US-Iran peace negotiations and ongoing blockades in the Strait of Hormuz, which have driven another surge in energy prices.
Eurozone’s Manufacturing PMI climbed to 52.2 in April 2026 from 51.6 in March, surpassing expectations of 50.8.
GBPINR
SELL GBPINR APR @ 127.6 SL 127.9 TGT 127.3-127.
Observations
GBPINR trading range for the day is 126.71-127.43.
GBP steadied as tensions between the US and Iran remained elevated in absence of progress in peace talks.
UK retail sales volumes rose 0.7% month-on-month in March 2026, rebounding from a revised 0.6% drop in February.
UK GfK Consumer Confidence Index dropped four points to -25 in April 2026, its largest decline in a year and the lowest level since October 2023.
JPYINR
SELL JPYINR APR @ 59.15 SL 59.35 TGT 58.9-58.7.
Observations
JPYINR trading range for the day is 58.83-59.15.
JPY dropped even as authorities issued renewed warnings of potential intervention and domestic inflation picked up.
Japan’s annual inflation rose to 1.5% in March 2026 from February’s near four-year low of 1.3%.
Japan’s core consumer price index, which excludes fresh food but includes energy, rose 1.8% year-on-year in March 2026
