SELL USDINR APR @ 95.1 SL 95.3 TGT 94.9-94.7 - Kedia Advisory
USDINR
SELL USDINR APR @ 95.1 SL 95.3 TGT 94.9-94.7.
Observations
USDINR trading range for the day is 93.96-95.74.
Rupee hit a record low past 94.95, hammered by worries that the energy supply crisis will drag on.
Markets factored in expectations that RBI would keep its key repo rate steady at 5.25% on April 8 and maintain this stance at least until mid-2027.
Persistently low inflation, below the RBI’s medium-term target of 4%, combined with steady economic growth, has bolstered investor confidence.
EURINR
SELL EURINR APR @ 109.75 SL 110 TGT 109.45-109.1.
Observations
EURINR trading range for the day is 108.77-110.27.
Euro settled flat as investors shunned riskier assets amid escalating US-Iran tensions.
German consumer confidence also slumped to a two-year low heading into April, highlighting the conflict’s economic fallout.
ECB Lagarde’s warning that the bank stands ready to act "at any meeting" to counter inflation risks from energy shocks.
GBPINR
SELL GBPINR APR @ 126.6 SL 126.9 TGT 126.2-125.9.
Observations
GBPINR trading range for the day is 125.4-127.38.
GBP settled flat as risk aversion surged amid ongoing US-Iran tensions.
The UK GfK Consumer Confidence Index fell to -21 in March 2026 from -19 in February, marking its lowest level in nearly a year.
UK car production dropped 10.7% year-on-year to 65,885 units in February 2026, deepening from an 8.2% decline in January.
JPYINR
SELL JPYINR APR @ 60 SL 60.25 TGT 59.75-59.5.
Observations
JPYINR trading range for the day is 58.55-60.91.
JPY dropped as Finance Minister said authorities are prepared to take “bold actions” to counter foreign exchange moves.
Investors continued to grapple with heightened uncertainties amid skepticism that the US and Iran could strike a deal to end the war.
Japan’s leading economic index, was at 112.1 in January 2026 below flash data of 112.4.
