Published: 2025-05-23T05:33:28.000Z
Chart USD/INR Update: Lower in consolidation from 86.1025 high
Technical Analyst
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Settled back below the 86.1025 high as prices unwind the overbought intraday studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 86.8725 | * | 7 Mar low | S1 | 85.5000 | * | congestion | |
| R3 | 86.7100 | ** | Apr high | S2 | 85.3100 | * | 16 May low | |
| R2 | 86.4600 | * | Feb low | S3 | 85.0000 | ** | congestion | |
| R1 | 86.1025 | * | 22 May high | S4 | 84.6250 | ** | 13 May low |
Asterisk denotes strength of level
05:25 GMT - Settled back below the 86.1025 high as prices unwind the overbought intraday studies and consolidate gains from the 84.6250 low of last week. Positive daily studies suggest room for further gains to retrace the February/May losses and close above the 86.0000 level will see extension to strong resistance zone at 86.4600/86.7100 area. Corrective gains are expected to give way to renewed selling pressure later. Meanwhile, support remains at the 85.5000 congestion which extend to the 85.3100, Friday's low. This area is expected to underpin and sustain gains from 83.7700, May YTD low.