SELL USDINR JUL @ 96 SL 96.2 TGT 95.8-95.6 - Kedia Advisory
USDINR
SELL USDINR JUL @ 96 SL 96.2 TGT 95.8-95.6.
Observations
USDINR trading range for the day is 95.17-96.77.
Rupee rose as a sharp decline in global crude oil prices improved investor sentiment after the US and Iran halted strikes.
India's foreign exchange reserves rose to $676.24 billion as of July 17, compared with $675.16 billion a week earlier.
market participants remained cautious ahead Fed meeting, where the central bank is widely expected to keep interest rates unchanged.
EURINR
SELL EURINR JUL @ 109.5 SL 109.8 TGT 109.2-109.
Observations
EURINR trading range for the day is 108.88-110.14.
Euro dropped amid Rupee firmness and investors assessed the ECB's policy outlook and fresh PMI data.
Several policymakers, warned that inflation risks remain elevated and further rate increases may be needed.
S&P Global survey showed Eurozone business activity returned to growth in July, beating forecasts.
GBPINR
SELL GBPINR JUL @ 129.2 SL 129.5 TGT 128.9-128.6.
Observations
GBPINR trading range for the day is 128.94-129.62.
GBP dropped amid Rupee firmness and as a softer inflation reading prompted investors to reassess their positioning.
Consumer confidence improved to a six-month high in July, while the BOE’s Decision Maker Panel survey showed easing inflation expectations.
S&P Global PMI indicated UK business activity returned to growth, exceeding forecasts.
JPYINR
SELL JPYINR JUL @ 58.8 SL 59 TGT 58.6-58.4.
Observations
JPYINR trading range for the day is 58.67-59.07.
JPY dropped amid Rupee firmness as oil prices retreated after the US and Iran suspended strikes against each other.
Japan's services producer price index rose 3.2% in June from a year earlier, central bank data showed.
Japan Manufacturing PMI inched down to 54.7 in July 2026 from 54.8 in the previous month, but surpassed market expectations of 54.5.
