Chart USD/INR Update: Room to extend pullback from 87.5300 high
Extending pullback from the 87.5300 high and break of the 87.0000 level reaching 86.8900 low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 87.9500 | ** | 10 Feb all-time high | S1 | 86.8500 | * | 25 Feb low | |
| R3 | 87.5825 | * | 6 Feb high | S2 | 86.6525 | * | Jan high | |
| R2 | 87.5300 | ** | 28 Feb high | S3 | 86.4600 | ** | 12 Feb low | |
| R1 | 87.2800 | * | 3 Feb high | S4 | 86.1650 | ** | 24 Jan low |
Asterisk denotes strength of level
05:15 GMT - Extending pullback from the 87.5300 high and break of the 87.0000 level reaching 86.8900 low. Bounce here see prices unwinding the oversold intraday studies but the negative daily studies suggest consolidation here giving way to fresh selling pressure later. Nearby will see room to the 86.8500 support then the 86.6525, January high. Below these will return focus to the 86.4600 low of February. Break of the latter will extend losses from the February high to retrace strong rally from the September low. Meanwhile, resistance remains at the 87.2800 congestion which is expected to cap and sustain losses from the 87.5300, late-February high.