Published: 2023-12-12T05:19:51.000Z
Chart USD/INR Update: Extending consolidation below 83.4000 level
Technical Analyst
-
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 83.5300 | projection | S1 | 83.2510 | * | 1 Dec low | ||
| R3 | 83.5000 | * | figure | S2 | 83.2210 | * | 7 Sep high | |
| R2 | 83.4775 | ** | 10 Nov YTD high | S3 | 83.1625 | * | Aug high | |
| R1 | 83.4000 | * | figure | S4 | 83.0175 | ** | 15 Nov low |
Asterisk denotes strength of level
05:20 GMT - Little change, with prices extend consolidation below the 83.4000 level. While the latter caps, scope is seen for pullback to extend losses from the 73.4775 high to retest the 83.2510 support. Would take break here to extend losses to support at the 83.2210 and 83.1625, previous highs. Below these will shift focus to the key 83.0175 low of November as break here will turn focus lower to further retrace the Jul/Nov gains. Meanwhile, clearing the 83.4000 level will return focus to the 83.4775 high.