Published: 2025-08-07T05:00:02.000Z
Chart USD/INR Update: Shallow pullback from 87.8850 high
Technical Analyst
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Edged lower from the 87.8850 high as prices unwind overbought intraday studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 88.7000 | * | projection | S1 | 87.5000 | * | congestion | |
| R3 | 88.0000 | * | figure | S2 | 87.2150 | * | 4 Aug low | |
| R2 | 87.9500 | ** | 10 Feb all-time high | S3 | 87.0600 | * | 30 Jul low | |
| R1 | 87.8850 | * | 5 Aug high | S4 | 86.8990 | ** | Jun high |
Asterisk denotes strength of level
05:00 GMT - Edged lower from the 87.8850 high as prices unwind overbought intraday studies. However, shallow pullback suggest bulls remain in control and further gains to retest the 87.9500 all-time high cannot be ruled out. Clearance will extend the underlying bull trend and see room to the 88.0000 figure. Meanwhile, support is raised to 87.5000 congestion and extending to the 87.2150 higher low. This area is expected to underpin while break will open up room for deeper pullback to retrace rally from the 85.1900, July low.