Published: 2025-02-07T05:34:07.000Z
Chart USD/INR Update: Consolidating gains to 87.5825, all-time high
Technical Analyst
2
Settled back from fresh all-time high at 87.5825 as prices consolidate the 2-week rally from the 86.1650 low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 88.5000 | * | figure | S1 | 87.2800 | * | 3 Feb high | |
| R3 | 88.0000 | * | figure | S2 | 87.0000 | * | figure | |
| R2 | 87.7200 | projection | S3 | 86.6525 | ** | 31 Jan high, gap | ||
| R1 | 87.5825 | ** | 6 Feb all-time high | S4 | 86.5000 | congestion |
Asterisk denotes strength of level
05:25 GMT - Settled back from fresh all-time high at 87.5825 as prices consolidate the 2-week rally from the 86.1650 low. While the deep overbought daily and weekly studies caution corrective pullback, the bullish momentum suggest scope for further gains ahead. Higher will see scope to 87.7200 projection target then the 88.0000 figure. Meanwhile, support is raised to the previous high at 87.2800 which extends to the 87.0000 level. Only below here will open up room for deeper correction to the 86.6525, January highs and gap area.