Published: 2024-12-20T05:08:29.000Z
Chart USD/INR Update: Extending gains fresh record high
Technical Analyst
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Further extending bullish gains from the September low to reach fresh record high at 85.1000 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 85.2900 | * | extension | S1 | 85.0000 | * | figure | |
| R3 | 85.2500 | * | extension | S2 | 84.8800 | * | 12 Dec high | |
| R2 | 85.2000 | * | figure | S3 | 84.7575 | * | 3 Dec high | |
| R1 | 85.1000 | * | intraday high | S4 | 84.5700 | * | 6 Dec low |
Asterisk denotes strength of level
05:10 GMT - Further extending bullish gains from the September low to reach fresh record high at 85.1000 level. The underlying bullish structure highlights room for further gains to the 85.2000 level next. However, deep overbought daily and weekly studies caution corrective pullback. Meanwhile, support remains at the 85.0000 level and this extend to the 84.8800 recent high. Would take break of these to ease the upside pressure and open up deeper pullback to retrace the strong gains from the 83.4400, September low.