Sell USDINR Jul @ 95.5 SL 95.7 TGT 95.3-95.1 - Kedia Advisory
USDINR
SELL USDINR JUL @ 95.5 SL 95.7 TGT 95.3-95.1.
Observations
USDINR trading range for the day is 95.13-95.69.
Rupee hovered around 95.40, pausing recent losses as the greenback softened on softer-than-expected labor data.
India Services PMI was revised slightly higher to 57.4 in June 2026 from the preliminary estimate of 57.3 but remained below May's final six-month high of 58.9.
India’s HSBC Composite PMI fell to 57.1 in June 2026 from May’s 59.3, below the flash estimate of 57.4 and marking the lowest reading since March.
EURINR
SELL EURINR JUL @ 109.5 SL 109.8 TGT 109.2-108.9.
Observations
EURINR trading range for the day is 109.12-109.7.
Euro gains amid drop in dollar after softer-than-expected US jobs report helped to ease concerns of an imminent rate hike by the Fed.
Eurozone Services PMI Business Activity Index rose to 49.4 in June of 2026 from 47.7 in the previous month
Germany’s Services PMI was revised sharply higher to 48.6 in June 2026, up from the preliminary estimate of 46.8 and above May’s final reading of 48.1.
GBPINR
SELL GBPINR JUL @ 128 SL 128.3 TGT 127.7-127.4.
Observations
GBPINR trading range for the day is 127.46-128.24.
GBP gained as dollar fell following a much weaker-than-expected US jobs report and improving risk sentiment amid signs of progress in indirect US-Iran talks.
UK Services PMI was revised slightly higher to 48.8 in June 2026 from a preliminary estimate of 48.7, but remained below May's reading of 49.3.
BOE Bailey maintained a dovish tone, citing signs of a slowing UK economy but emphasizing that persistent inflation risks rule out imminent rate cuts.
JPYINR
SELL JPYINR JUL @ 59.5 SL 59.7 TGT 59.3-59.1.
Observations
JPYINR trading range for the day is 59.3-59.52.
JPY steadied as Finance Minister Satsuki Katayama reiterated that authorities stand ready to intervene at any time to support the currency.
JPY drew support from a weaker dollar after softer-than-expected US jobs data prompted traders to reduce expectations for Fed rate hikes this year.
Japan’s Services PMI Business Activity Index stood at 52.2 in June 2026, higher than the flash data of 51.8 and 50.0 in the prior month.
