Published: 2025-05-28T05:51:53.000Z
Chart USD/INR Update: Extend corrective bounce
Technical Analyst
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Extending bounce from the 84.7800 low as prices unwind the oversold intraday and daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 86.7100 | ** | 9 Apr high | S1 | 85.5000 | * | congestion | |
| R3 | 86.4600 | * | Feb low | S2 | 85.0000 | * | congestion | |
| R2 | 86.1025 | ** | 22 May high | S3 | 84.7800 | ** | 26 May low | |
| R1 | 85.8425 | * | 9 May high | S4 | 84.5000 | * | congestion |
Asterisk denotes strength of level
05:50 GMT - Extending bounce from the 84.7800 low as prices unwind the oversold intraday and daily studies. Above the 85.5000 congestion see scope for retest of tje 85.8425 resistance and clearance here will expose the 86.1025 high of last week to retest. Beyond this will see room to extend the broader gains from 2 May YTD low at 83.7700 to retrace losses from February high. Meanwhile, support is raised to the 85.5000 congestion. Break here needed to return focus to the downside for retest of 85.0000 congestion and 84.7800 low.