Published: 2025-04-04T05:16:14.000Z
Chart USD/INR Update: Consolidating test of 85.0000 figure
Technical Analyst
1
Sharply lower as prices gapped down to the 84.9675 low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 85.7500 | ** | 3 Apr high | S1 | 85.0000 | * | congestion | |
| R3 | 85.5000 | * | congestion | S2 | 84.9500 | * | 20 Dec low | |
| R2 | 85.4275 | * | 3 Apr low, gap | S3 | 84.7575 | * | 3 Dec high | |
| R1 | 85.4000 | * | 28 Mar low | S4 | 84.5700 | * | 6 Dec low |
Asterisk denotes strength of level
05:10 GMT - Sharply lower as prices gapped down to the 84.9675 low before edging up to consolidate above the 85.0000 level. Deep oversold daily studies caution corrective bounce with the resistance starting at 85.4000/85.4275, March low and 3 April low gap. Filling this, if seen, will open up room for stronger bounce to the 85.5000 congestion and 85.7500 resistance. Consolidation expected to give way to further losses later, clear break of the 85.0000 level will see room for extension to 84.9500/84.7575 area. Lower still will see scope to 84.5700 and 84.5000 level.