Chart USD/INR Update: Rebound return focus to 84.5075 high
Gapped up opening to regain the 84.4000 level return focus to the upside for retest of the 84.5075, all-time high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 84.8000 | figure | S1 | 84.4000 | * | congestion | ||
| R3 | 84.7800 | projection | S2 | 84.2200 | ** | 26 Nov low | ||
| R2 | 84.5075 | ** | 22 Nov all-time high | S3 | 84.2000 | * | figure | |
| R1 | 84.4500 | intraday high | S4 | 84.1600 | * | 6 Nov low |
Asterisk denotes strength of level
05:30 GMT - Gapped up opening to regain the 84.4000 level return focus to the upside for retest of the 84.5075, all-time high. Break here, if seen, will see room for extension of the underlying bull trend to the 84.7800 projection target then the 84.8000 figure. However, weekly studies remains overbought and suggest the 84.5075 high likely to cap though a later break cannot be ruled out. Meanwhile, support is raised to the 84.4000/84.3675 area and this now underpin. Would take break here to return focus to the downside for retest of the 84.2200 low. Break here will trigger deeper pullback to retrace the September/November rally.