SELL USDINR MAY @ 95.2 SL 95.5 TGT 94.9-94.7 - Kedia Advisory
USDINR
SELL USDINR MAY @ 95.2 SL 95.5 TGT 94.9-94.7.
Observations
USDINR trading range for the day is 94.83-95.19.
Rupee fell to a record closing low pressured by rising oil prices as efforts to end the Iran conflict remained stalled
India’s industrial output growth slowed to a five-month low of 4.1% in March from 5.1% in February.
India's foreign exchange reserves saw a significant jump of $2.3 billion, reaching $703 billion.
EURINR
SELL EURINR MAY @ 111.4 SL 111.7 TGT 111-110.7.
Observations
EURINR trading range for the day is 111.2-111.58.
Euro steadied as investors processed fresh flash inflation figures and awaited central bank decisions from ECB.
Euro zone banks tighten access to credit as Iran war bites: ECB survey
Euro zone consumers sharply lift inflation bets, ECB survey shows
GBPINR
SELL GBPINR MAY @ 128.5 SL 128.8 TGT 128.1-127.8.
Observations
GBPINR trading range for the day is 128.24-128.6.
GBP steadied as investors assessed updated UK economic forecasts and awaited policy decisions from Bank of England, as well as developments in US-Iran talks.
Lloyds revised its 2026 UK inflation forecast upward to 3.4% from 2.6%, while slashing its GDP growth estimate to 0.5% from 1.2%.
The bank no longer expects any BOE rate cuts this year, having previously anticipated two, and now projects unemployment to peak at 5.6% in Q4.
JPYINR
SELL JPYINR MAY @ 59.75 SL 60 TGT 59.5-59.25.
Observations
JPYINR trading range for the day is 59.72-59.72.
JPY steadied after the Bank of Japan delivered a hawkish hold.
BOJ kept its policy rate unchanged at 0.75% as expected, while raising its inflation outlook and lowering its growth forecast for FY2026
Finance Minister Satsuki Katayama reiterated that authorities stand ready to intervene in currency markets at any time to support the yen.
