Chart USD/INR Update: Extending gains
Extend bullish break above the 94.0000 level to extend gains from the 10 April low at 92.4050 to fresh high at 94.2725
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 95.5000 | * | figure | S1 | 94.0000 | * | figure, congestion | |
| R3 | 95.2100 | ** | 30 Mar all-time high | S2 | 93.4100 | ** | 15 Apr high | |
| R2 | 94.8400 | * | 27 Mar high | S3 | 93.0000 | * | congestion | |
| R1 | 94.2725 | intraday high | S4 | 92.6550 | ** | 17 Apr low |
Asterisk denotes strength of level
05:00 GMT - Extend bullish break above the 94.0000 level to extend gains from the 10 April low at 92.4050 to fresh high at 94.2725. Higher, will see scope to retest the 94.8400 high of 27 March then the 95.2100, 30 March all-time high. Meanwhile, support is raised to the 94.0000 level. Below here will ease the upside pressure and see room for pullback to strong support at the 93.4100, 15 April high. Would take break here to fade the upside pressure and expose the 92.6500 and 92.4050 April lows to retest. Below here will see room for deeper pullback to retrace gains from the 90.0450 February low.