Published: 2023-12-14T05:39:09.000Z
Chart USD/INR Update: Pullback shift focus to 83.2510 support
Technical Analyst
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| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 83.5300 | projection | S1 | 83.2510 | * | 1 Dec low | ||
| R3 | 83.5000 | * | figure | S2 | 83.2210 | * | 7 Sep high | |
| R2 | 83.4775 | ** | 10 Nov all-time high | S3 | 83.1625 | * | Aug high | |
| R1 | 83.4000 | * | figure | S4 | 83.0175 | ** | Nov low |
Asterisk denotes strength of level
05:30 GMT - Choppy trade below the 83.4000 resistance has given way to pullback with the gapped down opening turning focus to the 83.2510 support. Would take break here to signal a top in place and turn focus to the lower support area at 83.2210/83.1625. Below these will expose the key support at the November low at 83.0175 to retest. Break here will see deeper pullback to retrace the July/November rally. Meanwhile, resistance at the 83.4000 level should now cap and sustain deeper pullback from the 73.4775 all-time high.