Published: 2025-09-03T05:13:13.000Z
Chart USD/INR Update: Lower in consolidation, but still supported
0
-
Lower in consolidation from the 88.3300 high as prices unwind overbought intraday and daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 89.0000 | * | figure | S1 | 88.0000 | * | figure | |
| R3 | 88.7000 | * | projection | S2 | 87.8850 | ** | 5 Aug high | |
| R2 | 88.5000 | ** | upper channel | S3 | 87.5000 | * | congestion | |
| R1 | 88.3300 | ** | 1 Sep all-time high | S4 | 87.0000 | * | figure |
Asterisk denotes strength of level
05:00 GMT - Lower in consolidation from the 88.3300 high as prices unwind overbought intraday and daily studies. However, the downside remains limited and see break of the 88.0000 level and 87.8850, 5 August high, needed to fade the upside pressure and open up room for deeper pullback to correct the strong rally from the 88.1900, July low. Meanwhile, resistance at the 88.3300 high is expected to cap. Clearance here needed to further extend gains from the May current year low and see room to 88.5000 channel resistance.