Published: 2025-05-26T05:42:39.000Z
Chart USD/INR Update: Sharply lower through the 85.0000 level
Technical Analyst
-
Extending sharp pullback from the 86.1025 high of last week and February trendline to break the 85.0000 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 86.4600 | ** | Feb low | S1 | 84.6250 | * | 13 May low | |
| R3 | 86.1025 | ** | 22 May high | S2 | 84.5000 | * | congestion | |
| R2 | 85.8425 | * | 9 May high | S3 | 84.0000 | ** | congestion | |
| R1 | 85.5000 | * | congestion | S4 | 83.7700 | ** | 2 May YTD low |
Asterisk denotes strength of level
05:40 GMT - Extending sharp pullback from the 86.1025 high of last week and February trendline to break the 85.0000 level. Daily studies have turned sharply lower and suggest room for deeper pullback to the 84.6250 support then the 84.5000 congestion. Below the latter 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.