Published: 2025-05-06T05:48:33.000Z
Chart USD/INR Update: Range-bound in consolidation
Technical Analyst
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Higher within the Friday's range following bounce from the 83.7700 low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 85.4900 | * | 24 Mar low | S1 | 84.0000 | * | figure | |
| R3 | 85.0000 | ** | figure, congestion | S2 | 83.7700 | ** | 2 May YTD low | |
| R2 | 84.7575 | * | 3 Dec high | S3 | 83.6650 | * | Jun high | |
| R1 | 84.5800 | * | 2 May high | S4 | 83.5750 | * | Apr high |
Asterisk denotes strength of level
05:45 GMT - Higher within the Friday's range following bounce from the 83.7700 low as prices unwind the oversold daily and weekly studies. Above the 84.5000 congestion see resistance at the Friday's high at 84.5800 and clearance here will open up room for stronger gains to strong resistance at the 84.7575/85.0000 congestion area. However, corrective gains are expected to give way to renewed selling pressure later. Close below the 84.0000 figure will further extend losses from the February all-time high at 87.9500 to support at 83.6650 and 83.5750, June/April 2024 highs.