Chart USD/INR Update: Lower from 91.9650 historic high
Lower in consolidation from the 91.9650 historic high as prices consolidate strong gains from the 89.2500 December low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 92.6500 | * | projection | S1 | 91.5000 | * | congestion | |
| R3 | 92.1300 | * | projection | S2 | 91.0000 | * | figure | |
| R2 | 92.0000 | * | figure | S3 | 90.4200 | * | 4 Dec high | |
| R1 | 91.9650 | * | 23 Jan all-time high | S4 | 90.2900 | ** | 5 Jan high |
Asterisk denotes strength of level
04:40 GMT - Lower in consolidation from the 91.9650 historic high as prices consolidate strong gains from the 89.2500 December low. Intraday studies are unwinding overbought reading but positive daily studies suggest potential for further gains to extend the underlying bull trend. Higher, if seen, will see room to the 92.0000 level and 92.1300 projection target. Meanwhile, support is raised to 91.5000 congestion. Below this will open up room for deeper pullback to support at the 91.0750/91.0000 area which is expected to underpin. Would take break of the latter to fade the upside pressure and see room for deeper pullback to retrace strong gains from the December low.