Published: 2024-11-05T05:55:08.000Z
Chart USD/INR Update: Extending gains
Technical Analyst
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Pressure remains on the upside and break above the 84.1000 figure has seen gains reaching fresh all-time high at 84.1250
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 84.7800 | projection | S1 | 84.0600 | * | 30 Oct low | ||
| R3 | 84.5000 | figure | S2 | 83.9850 | * | Sep high | ||
| R2 | 84.2675 | projection | S3 | 83.9050 | * | 3 Oct low | ||
| R1 | 84.1250 | ** | intraday high | S4 | 83.8000 | * | congestion |
Asterisk denotes strength of level
05:45 GMT - Pressure remains on the upside and break above the 84.1000 figure has seen gains reaching fresh all-time high at 84.1250. Further gains will see scope for extension to 84.2675 projection target. Higher still, if seen, will see potential to the 84.5000 figure but stretched daily studies caution corrective pullback. Meanwhile, support is raised to the 84.0600 low of last week which now underpin. Would take break here to ease the upside pressure and see room for consolidation to the 84.0000/83.9850 congestion and September high.