Chart USD/INR Update: Extend consolidation below 91.2040 high
Extending cosolidation below the 91.2040 high but pressure remains on the upside
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 92.1300 | * | extension | S1 | 90.5000 | * | congestion | |
| R3 | 91.9875 | ** | 30 Jan all-time high | S2 | 90.0450 | * | 3 Feb low | |
| R2 | 91.5000 | * | congestion | S3 | 89.7400 | * | Jan low | |
| R1 | 91.2040 | ** | 19 Feb high | S4 | 89.5000 | * | congestion |
Asterisk denotes strength of level
05:10 GMT - Extending cosolidation below the 91.2040 high but pressure remains on the upside and see scope to extend gains from the 90.0450, 3 February low. Higher will see room for stronger gains to the 91.5000 congestion and where break here will return focus to the 91.9875 high. However, the latter expected to cap and corrective bounce is expected to give way to renewed selling pressure later. Break of support at the 90.5000 congestion will return focus to the 90.0450 low and the 90.0000 figure. Below here will extend the broader losses from the 91.9875 January all-time high and see room to support at 89.7400 January low and 89.5000 congestion.