Published: 2024-11-04T05:36:17.000Z
Chart USD/INR Update: Consolidating below 84.0950, fresh all-time high
Technical Analyst
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Lower at the open as prices settled back from 84.0950 fresh all-time high seen on Friday
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 84.4900 | projection | S1 | 83.9850 | * | Sep high | ||
| R3 | 84.2660 | projection | S2 | 83.9000 | * | congestion | ||
| R2 | 84.1000 | * | figure | S3 | 83.8000 | * | congestion | |
| R1 | 84.0950 | ** | 31 Oct all-time high | S4 | 83.7550 | ** | 20 Aug low |
Asterisk denotes strength of level
05:30 GMT - Lower at the open as prices settled back from 84.0950 fresh all-time high seen on Friday. However, pressure remains on the upside and further gains to extend gains from the September low cannot be ruled out. Higher will see scope for extension to 84.1000 figure. Beyond this will see potential to projection target at 84.2660 then the 84.4900 level. Meanwhile, support remains at the 84.0000/83.9850, congestion and September high. Would take break here to ease the upside pressure and see room for deeper pullback to the 83.9000 congestion then the strong support at the 83.8000/83.7550 area.