Published: 2025-06-23T05:02:33.000Z
Chart USD/INR Update: Range-bound in consolidation below 86.8990 high
Technical Analyst
2
Range-bound below the 86.8990 high as prices consolidate test of the upper wedge pattern
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 87.5300 | ** | 28 Feb high | S1 | 86.4600 | * | Feb low | |
| R3 | 87.3850 | * | Mar high | S2 | 86.1025 | * | May high | |
| R2 | 87.0000 | * | congestion | S3 | 85.9200 | * | 13 Jun low | |
| R1 | 86.8990 | ** | 19 Jun YTD high | S4 | 85.6475 | * | 12 Jun high, gap |
Asterisk denotes strength of level
05:00 GMT - Range-bound below the 86.8990 high as prices consolidate test of the upper wedge pattern. Intraday and daily studies are stretched and suggest room for pullback to retrace strong gains from the 85.6475 low of last week. Support is at 86.5000/86.4600 area and break here will open up room to 86.1025/86.0000 area. Lower still, will see the gap at 85.9200/85.6475 attracting. Meanwhile, resistance is at the 86.8990 high. Break here and the 87.0000 level will further extend gains from the May low to target 87.3850 and 87.5300, March and 28 February highs.