Published: 2025-07-23T05:00:02.000Z
Chart USD/INR Update: Extending corrective gains
Technical Analyst
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Up to tag strong resistance at the 86.4600, February low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 87.0000 | * | figure | S1 | 86.0000 | * | congestion | |
| R3 | 86.8990 | ** | Jun high | S2 | 85.7325 | * | 16 Jul low | |
| R2 | 86.7100 | * | Apr high | S3 | 85.5000 | * | congestion | |
| R1 | 86.4600 | ** | Feb low | S4 | 85.1900 | ** | 3 Jul low |
Asterisk denotes strength of level
05:00 GMT - Up to tag strong resistance at the 86.4600, February low. Stretched daily studies suggest reaction here likely to unwind overbought readings. Clearance here, if seen, will see room for extension to the 86.7100/86.8990, April and June swing highs. Meanwhile, support is at 86.0000 level which should underpin. Would take break here to return focus to the downside to retrace rally from the 85.1900 low. Break will open up room to the 85.7325 support then 85.5000 congestion.