Published: 2024-09-10T05:29:17.000Z
Chart USD/INR Update: Consolidating, but pressure remains on the upside
Technical Analyst
-
Little change, as prices extend consolidation below the 83.9850 all-time high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 84.1000 | * | figure | S1 | 83.8000 | * | figure | |
| R3 | 84.0800 | * | Fibonacci extension | S2 | 83.7560 | ** | 20 Aug low | |
| R2 | 84.0000 | ** | figure | S3 | 83.7450 | * | Jul high | |
| R1 | 83.9850 | ** | 5 Sep all-time high | S4 | 83.6650 | ** | Jun high |
Asterisk denotes strength of level
05:15 GMT - Little change, as prices extend consolidation below the 83.9850 all-time high. Pressure remains on the upside though overbought daily studies caution corrective pullback. Would take break of support at the 83.8000 level and 83.7560, 20 August low, to confirm a top in place at the 83.9850 all-time high. Lower will see room for deeper pullback to correct the rally from the June low at 82.9550 and see room to 83.6650 and 83.6000 level. Meanwhile, the 83.9850 high now expected to cap. Break here, if seen, will see room for further extension to target the 84.0000 figure.