SELL USDINR MAY @ 95 SL 95.3 TGT 94.7-94.5 - Kedia Advisory
USDINR
SELL USDINR MAY @ 95 SL 95.3 TGT 94.7-94.5.
Observations
USDINR trading range for the day is 94.3-95.3.
Rupee weakened pressed by a stubborn rise in oil prices and sustained hedging by local importers against further weakness.
India's economy is expected to grow steadily, but the country's large informal sector is facing significant challenges due to global conflicts.
Industrial production in India rose by 4.1% from the previous year in March of 2026, slowing from the revised 5.1% expansion in February.
EURINR
SELL EURINR MAY @ 111.25 SL 111.5 TGT 111-110.7.
Observations
EURINR trading range for the day is 110.36-112.36.
Euro steadied as stalled efforts to resolve the US–Iran conflict and reopen the Strait of Hormuz kept sentiment subdued.
Eurozone median inflation expectations for the next 12 months jumped to 4.0% in March 2026, the highest level since October 2023 and up sharply from 2.5% in February.
US President Trump and his national security team were reportedly skeptical of Iran’s latest proposal, which defers nuclear negotiations to a later stage.
GBPINR
SELL GBPINR MAY @ 128.2 SL 128.5 TGT 127.9-127.6.
Observations
GBPINR trading range for the day is 127.66-128.5.
GBP steadied as the US-Iran impasse continues and domestic political pressures weigh on markets.
UK shop price inflation rose 1.0% year-on-year in April 2026, down from 1.2% in March and below market expectations of 1.5%
Prime Minister Keir Starmer faces a pivotal vote over whether to investigate his assurances to Parliament regarding the appointment of Peter Mandelson as US ambassador.
JPYINR
SELL JPYINR MAY @ 59.5 SL 59.7 TGT 59.3-59.1.
JPYINR trading range for the day is 58.88-61.42.
JPY dropped despite BOJ kept its policy rate unchanged at 0.75% for a fourth straight meeting
The central bank raised its inflation outlook while lowering its FY2026 growth projections to reflect the economic impact of the Middle East conflict.
apan’s unemployment rate rose to 2.7% in March 2026, slightly above market expectations and up from 2.6% in the previous month.
