Sell USDINR Jul @ 94.8 SL 95 TGT 94.6-94.4 - Kedia Advisory
USDINR
SELL USDINR JUL @ 94.8 SL 95 TGT 94.6-94.4.
Observations
USDINR trading range for the day is 94.38-95.12.
Rupee lumbered as a decline in local stocks eroded the boost to market sentiment from gains in Asian currencies.
India's foreign exchange reserves rose to $672.59 billion as of June 19, compared with $671.63 billion a week earlier.
Goldman Sachs has boosted India's FY27 growth outlook to 6.5%, citing lower oil prices and easing supply issues.
EURINR
SELL EURINR JUL @ 108.25 SL 108.5 TGT 108-107.8.
Observations
EURINR trading range for the day is 103.63-110.67.
Euro climbed as investors are now focusing on the ECB’s Sintra Forum and upcoming inflation data from Europe’s major economies.
The Eurozone industrial confidence indicator rose slightly to -7.7 in June 2026 from -7.9 in May, but was below forecasts of -7.2.
Services sector confidence in the Eurozone rebounded to 3.2 in June of 2026 from 2.6 in the previous month.
GBPINR
SELL GBPINR JUL @ 125.5 SL 125.8 TGT 125.2-125.
Observations
GBPINR trading range for the day is 124.82-125.76.
GBP gained as investors are closely watching Andy Burnham’s upcoming speech for insights into his economic approach.
Net mortgage approvals for UK house purchases fell to 56,205 in May 2026, down from a revised 66,034 in April.
Net borrowing of consumer credit by individuals in the UK eased slightly to £1.66 billion in May of 2026.
JPYINR
SELL JPYINR JUL @ 59 SL 59.3 TGT 58.7-58.5.
Observations
JPYINR trading range for the day is 58.4-59.6.
JPY dropped as traders reined in bets for Federal Reserve rate hikes after U.S. inflation met forecasts.
Retail sales in Japan increased 5.3% year-on-year in May 2026, accelerating from an upwardly revised 2.8% rise in the previous month
Stronger dollar and the wide US-Japan interest rate gap continued to weigh on the currency while Fed is expected to raise rates later this year.
