Chart USD/INR Update: Extending corrective gains
Consolidation below the 83.7200 high has seen prices giving way to break higher above resistance at 83.7550, 20 August low
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 83.9400 | * | 11 Sep low | S1 | 83.6650 | * | Jun high | |
R3 | 83.9150 | ** | 6 Sep low | S2 | 83.6200/00 | * | 27 Sep low, congestion | |
R2 | 83.8250 | * | 30 Aug low | S3 | 83.5110 | * | 25 Sep low | |
R1 | 83.8050 | * | 26 Aug low | S4 | 83.4400 | ** | 23 Sep low |
Asterisk denotes strength of level
05:25 GMT - Consolidation below the 83.7200 high has seen prices giving way to break higher above resistance at 83.7550, 20 August low. Break here will open up room for stronger corrective gains to the 83.8250 resistance. However, gains are expected to give way to renewed selling pressure later. Meanwhile, support is raised to the June high at 83.6650 and where break will open up deeper pullback to the 83.6200/83.6000 area. Below the latter will return focus to the downside for retest 83.4400 low. Below these will extend losses from the 83.9850, September all-time high, and see room to 83.4000 congestion.