Chart USD/INR Update: Extending pullback from 86.8990 high
Extending losses from the 86.8990 high with break of 86.1025 and 85.9200 support opening up room for deeper pullback to retrace gains from the 83.7700, May YTD low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 86.8890 | ** | 19 Jun YTD high | S1 | 85.6475 | * | 12 Jun high, gap | |
| R3 | 86.7100 | * | Apr high | S2 | 85.4175 | ** | 11 Jun low | |
| R2 | 86.4600 | * | Feb low | S3 | 85.2425 | * | 30 May low | |
| R1 | 86.1025 | * | May high | S4 | 85.0000 | * | congestion |
Asterisk denotes strength of level
05:20 GMT - Extending losses from the 86.8990 high with break of 86.1025 and 85.9200 support opening up room for deeper pullback to retrace gains from the 83.7700, May YTD low. Lower will see room to fill the gap at the 85.6475, 12 June high. Daily studies have turned lower to unwind overbought readings and suggest room for deeper pullback to the 85.4175 and 85.2425 support. Below this will see scope to the 85.0000 congestion. Meanwhile, resistance is lowered to the May high at 86.1025 which is expected to cap and sustain pullback from the 86.8990 high.