Published: 2025-05-05T05:36:58.000Z
Chart USD/INR Update: Consolidating sharp losses
Technical Analyst
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No follow-through on break of the 84.0000 figure
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 85.4900 | * | 24 Mar low | S1 | 84.0000 | * | figure | |
| R3 | 85.0000 | ** | figure, congestion | S2 | 83.7700 | ** | 2 May YTD low | |
| R2 | 84.7575 | * | 3 Dec high | S3 | 83.6650 | * | Jun high | |
| R1 | 84.5000 | * | congestion | S4 | 83.5750 | * | Apr high |
Asterisk denotes strength of level
05:30 GMT - No follow-through on break of the 84.0000 figure and rebound from the 83.7700 low see prices unwinding the oversold daily and weekly studies. Bounce see resistance at the 84.5000 congestion and regaining this will open up room for stronger gains to strong resistance at the 84.7575/85.0000 congestion area. Corrective gains are expected to give way to renewed selling pressure later. Close below the 84.0000 figure will further extend losses from the February all-time high at 87.9500 to support at 83.6650 and 83.5750, June/April 2024 highs.