Published: 2025-05-27T04:00:48.000Z
Chart USD/INR Update: Extend corrective bounce from 84.7800 low
Technical Analyst
-
Extending bounce from the 84.7800 low as prices consolidate losses from the 86.1025 high of last week
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 86.4600 | ** | Feb low | S1 | 85.0000 | * | congestion | |
| R3 | 86.1025 | ** | 22 May high | S2 | 84.7800 | * | 26 May low | |
| R2 | 85.8425 | * | 9 May high | S3 | 84.5000 | * | congestion | |
| R1 | 85.5000 | * | congestion | S4 | 84.0000 | ** | congestion |
Asterisk denotes strength of level
04:00 GMT - Extending bounce from the 84.7800 low as prices consolidate losses from the 86.1025 high of last week and unwind oversold intraday studies. Daily studies are trackijng lower and suggest corrective bounce to give way to break later and see room for deeper pullback to the 84.5000 congestion. Lower still, will return focus to the downside and see scope to retest the 84.0000 level and 83.7700, 2 May YTD low. Meanwhile, resistance is lowered to the 85.5000 congestion which is expected to cap and sustain losses from the 86.1025 bounce high.