RBI Policy Meeting Today: Key Forex Ranges in Focus

The Reserve Bank of India's (RBI) monetary policy meeting is scheduled for today, with traders watching for any signals that could break the current consolidation in currency markets.

Ahead of the decision, technical projections suggest the Dollar Index may trade between 100.20 and 99.50. The Euro is seen oscillating around 1.1550–1.15, while EURJPY is expected to hold within 182–181 and USDJPY within 158–156.

Other pairs mentioned include the Australian dollar at 0.71–0.70, the British pound at 1.35–1.34, and the Indian rupee (USDINR) at 95.50–95.00. These ranges reflect a phase of near-term stability before a potential medium-term directional move.