Published: 2025-05-15T05:28:15.000Z
Chart USD/INR Update: Extend gains, room to retest 85.8425 high
Technical Analyst
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Consolidation below the 85.5000 resistance has given way to break to extend bounce from the 84.6250 low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 86.7100 | ** | Apr high | S1 | 85.5000 | * | congestion | |
| R3 | 86.4600 | ** | Feb low | S2 | 85.0000 | ** | congestion | |
| R2 | 86.0000 | * | figure | S3 | 84.6250 | ** | 13 May low | |
| R1 | 85.8425 | ** | 9 May high | S4 | 84.5000 | * | congestion |
Asterisk denotes strength of level
05:25 GMT - Consolidation below the 85.5000 resistance has given way to break to extend bounce from the 84.6250 low. Daily studies remain positive and suggest scope for extension to retest the 85.8425 high of last week. Clearance here, will see room to further retrace the February/May losses and see scope to 86.0000 figure. Beyond this will open up room for extension to strong resistance zone at 86.4600 and 86.7100 area. Gains are seen corrective and expected to give way to renewed selling pressure later with support starting at 85.5000 then 85.0000 figure.