Published: 2025-05-20T05:34:39.000Z
Chart USD/INR Update: Consolidating around 85.5000
Technical Analyst
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Still little change, as prices extend consolidation around the 85.5000 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 86.7100 | ** | Apr high | S1 | 85.3100 | * | 16 May low | |
| R3 | 86.4600 | ** | Feb low | S2 | 85.0000 | ** | congestion | |
| R2 | 86.0000 | * | figure | S3 | 84.6250 | ** | 13 May low | |
| R1 | 85.8425 | ** | 9 May high | S4 | 84.5000 | * | congestion |
Asterisk denotes strength of level
05:35 GMT - Still little change, as prices extend consolidation around the 85.5000 level following bounce from the 84.6250 low. Daily studies are tracking higher and suggest scope for retest of the 85.8425 high. Clearance here, if seen, will further retrace the February/May losses and see scope to extend gains to the 86.0000 figure. Higher still, will open up room for extension to strong resistance zone at 86.4600 and 86.7100 area. Gains are seen corrective and expected to give way to renewed selling pressure later to retest the 85.0000 figure and where break will return focus to the downside.