Published: 2024-11-06T05:33:29.000Z
Chart USD/INR Update: Extending gains
Technical Analyst
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Sharply higher to extend the break of the 84.1000 figure at the start of the week to reach fresh all-time high at 84.2025
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 84.7800 | projection | S1 | 84.0850 | * | 28 Oct high | ||
| R3 | 84.5000 | figure | S2 | 84.0600 | * | 30 Oct low | ||
| R2 | 84.2675 | projection | S3 | 83.9850 | * | Sep high | ||
| R1 | 84.2025 | ** | intraday high | S4 | 83.9150 | * | 3 Oct low |
Asterisk denotes strength of level
05:30 GMT - Sharply higher to extend the break of the 84.1000 figure at the start of the week to reach fresh all-time high at 84.2025. 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 October highs at 84.0850/84.0950 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.