Published: 2025-08-01T05:20:23.000Z
Chart USD/INR Update: Lower in consolidation from 87.7400 high
Technical Analyst
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Sharp pullback from the 87.7400 high see prices unwinding the overbought daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 89.0000 | * | figure | S1 | 87.0600 | * | 30 Jul low | |
| R3 | 88.0000 | * | figure | S2 | 86.8990 | ** | Jun high | |
| R2 | 87.9500 | ** | 10 Feb all-time high | S3 | 86.5000 | * | congestion | |
| R1 | 87.7400 | * | 31 Jul high | S4 | 86.3475 | * | 23 Jul low |
Asterisk denotes strength of level
05:15 GMT - Sharp pullback from the 87.7400 high see prices unwinding the overbought daily studies and consolidating strong gains from 85.1900 low. However, further gains cannot be ruled out and higher will see room for extension to retest the 87.9500, February all-time high. Would expect this to cap and unwind overbought daily studies. Meanwhile, break below the 87.5000 congestion see room for deeper pullback to retest the June high at 86.8990. Break here will return focus to the downside and see deeper correction of rally from the 85.1900, July low.