Published: 2025-04-08T05:25:07.000Z
Chart USD/INR Update: Extending corrective gains
Technical Analyst
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Break above the 85.8075 resistance see room for further gains to the 86.0000 level. Break here will further extend gains from the 84.9575 low and see room to strong resistance at 86.1650
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 86.6475 | * | 14 Jan high | S1 | 85.5000 | * | congestion | |
| R3 | 86.4600 | ** | 12 Feb low | S2 | 85.4000 | * | Mar low | |
| R2 | 86.1650 | ** | 24 Jan low | S3 | 85.0000 | * | congestion | |
| R1 | 86.0000 | * | figure | S4 | 84.9575 | ** | 4 Apr YTD low |
Asterisk denotes strength of level
05:20 GMT - Break above the 85.8075 resistance see room for further gains to the 86.0000 level. Break here will further extend gains from the 84.9575 low and see room to strong resistance at 86.1650. Clearance here, if seen, will open up scope to the 86.4600, February low. However, the latter is expected to cap and give way to selling pressure later. Meanwhile, support is at the 85.5000/85.4000 congestion area and see break here to return focus to the downside for retest of the 85.0000 figure and 84.9575, 4 April YTD low.