Published: 2024-12-03T05:16:45.000Z
Chart USD/INR Update: Extending gains
Technical Analyst
5
Gapped higher at the open see prices extending sharp gains from the 84.2200 low of last week
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 84.8150 | projection | S1 | 84.5850 | * | 2 Dec low | ||
| R3 | 84.8000 | figure | S2 | 84.5075 | * | 22 Nov high | ||
| R2 | 84.7800 | projection | S3 | 84.4000 | * | congestion | ||
| R1 | 84.7475 | ** | intraday high | S4 | 84.2200 | ** | 26 Nov low |
Asterisk denotes strength of level
05:15 GMT - Gapped higher at the open see prices extending sharp gains from the 84.2200 low of last week to reach fresh all-time high. Above the 84.7475 high will see room to extend the underlying bull trend to the 84.7800 projection target then the 84.8000 figure. However, daily and weekly studies remains overbought and suggest reaction at the latter likely. Meanwhile, support is raised to the 84.5850/84.5075 gap area which should underpin and sustain the underlying bull trend. Would take break here to ease the upside pressure and see room for pullback to support at the 84.4000 congestion.