Published: 2025-07-24T05:00:02.000Z
Chart USD/INR Update: Consolidating test of 86.4600 resistance
Technical Analyst
1
Settled back from test of the 86.4600 resistance as prices consolidate gains from the 85.1900, 3rd July low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 87.0000 | * | figure | S1 | 86.0000 | * | congestion | |
| R3 | 86.8990 | ** | Jun high | S2 | 85.7325 | * | 16 Jul low | |
| R2 | 86.7100 | * | Apr high | S3 | 85.5000 | * | congestion | |
| R1 | 86.4600 | ** | Feb low | S4 | 85.1900 | ** | 3 Jul low |
Asterisk denotes strength of level
05:00 GMT - Settled back from test of the 86.4600 resistance as prices consolidate gains from the 85.1900, 3rd July low. Daily studies are overbought and reaction here see prices unwinding overbought readings. Clearance here, but not expected, will open up room for extension to the 86.7100/86.8990, April/June swing highs. Meanwhile, support is at 86.0000 level which should underpin. Break here will return focus to the downside to retrace rally from the 85.1900 low and see room to 85.7325 support and 85.5000 congestion.