Published: 2025-07-08T05:07:19.000Z
Chart USD/INR Update: Settled back from corrective bounce to 86.0000 level
Technical Analyst
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Further extend bounce from the 85.1900 low to reach the 86.0000 level as prices retrace losses from the 86.8990, June high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 86.8990 | ** | 19 Jun high | S1 | 85.5000 | * | congestion | |
| R3 | 86.4600 | ** | Feb low | S2 | 85.1900 | ** | 3 Jun low | |
| R2 | 86.1025 | * | May high | S3 | 85.0000 | * | congestion | |
| R1 | 86.0000 | congestion | S4 | 84.7800 | ** | 26 May low |
Asterisk denotes strength of level
05:10 GMT - Further extend bounce from the 85.1900 low to reach the 86.0000 level as prices retrace losses from the 86.8990, June high. Nearby see resistance at the 86.1025 May high then the strong resistance at 86.4600 low of February which is expected to cap. Corrective gains are expected to give way to renewed selling pressure later. Below the 85.5000 congestion will expose the 85.1900 low to retest. Below the latter will further retrace the May/June gains and and see room to the 85.0000 congestion then the 84.7800, 26 May low.