Published: 2024-12-19T05:30:22.000Z
Chart USD/INR Update: Extending gains above 85.0000 level
Technical Analyst
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Bulls stays firmly in control with the gapped up opening above the 85.0000 figure extending the steep gains from the September low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 85.2500 | * | projection | S1 | 85.0000 | * | figure | |
| R3 | 85.2000 | * | figure | S2 | 84.8800 | * | 12 Dec high | |
| R2 | 85.1000 | * | figure | S3 | 84.7575 | * | 3 Dec high | |
| R1 | 85.0675 | * | intraday high | S4 | 84.5700 | * | 6 Dec low |
Asterisk denotes strength of level
05:25 GMT - Bulls stays firmly in control with the gapped up opening above the 85.0000 figure extending the steep gains from the September low to reach fresh record high at 85.0675. Bullish structure highlights room for further gains to the 85.1000 and 85.2000 levels. However, deep overbought daily and weekly studies caution corrective pullback. Meanwhile, support is raised to the 85.0000 level and this extend to the 84.8800 recent high. Would take break of these to open up deeper corrective pullback to retrace the strong gains from the 83.4400, September low.