Published: 2025-06-24T05:17:35.000Z
Chart USD/INR Update: Reversal from wedge top
Technical Analyst
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Gapped down at the opening to reach the 86.1025 support as prices reverse from the 86.8990 high and 2-month wedge top
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 87.0000 | * | congestion | S1 | 86.1025 | * | May high | |
| R3 | 86.8990 | ** | 19 Jun YTD high | S2 | 85.9200 | * | 13 Jun low | |
| R2 | 86.7100 | * | Apr high | S3 | 85.6475 | * | 12 Jun high, gap | |
| R1 | 86.4600 | * | Feb low | S4 | 85.4175 | ** | 11 Jun low |
Asterisk denotes strength of level
05:10 GMT - Gapped down at the opening to reach the 86.1025 support as prices reverse from the 86.8990 high and 2-month wedge top. Pullback see prices unwinding overbought daily studies and lower will see room to the 86.0000 leve. Below this will see the gap area at 85.9200/85.6475 attracting. Lower still, will see extension to support at 85.4175, 11 June low. Meanwhile, resistance is lowered to the February low at 86.4600 which is expected to cap and sustain pullback from the 86.8990 high.