Published: 2024-11-28T05:13:52.000Z
Chart USD/INR Update: Focus on the 84.5075 high
Technical Analyst
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Pressure remains on the upside following bounce from the 84.2200 low
| 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 | 84.4750 | * | 27 Nov high | S4 | 84.1600 | * | 6 Nov low |
Asterisk denotes strength of level
05:10 GMT - Pressure remains on the upside following bounce from the 84.2200 low. Above the 84.4750 high will open up the all-time high at 84.5075 high to retest. Break here 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 which now underpin. Would take break here to return focus to the downside for retest of the 84.2200 low.