Published: 2025-04-09T05:54:19.000Z
Chart USD/INR Update: Extending corrective gains
Technical Analyst
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Gapped above the 86.4600 resistance extending rally from the 84.9575 low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 87.5300 | ** | 28 Feb high | S1 | 86.4600 | * | Feb low | |
| R3 | 87.3850 | ** | 11 Mar high | S2 | 86.2900 | * | 8 Apr high, gap | |
| R2 | 87.0000 | * | congestion | S3 | 86.1650 | * | 24 Jan low | |
| R1 | 86.8725 | ** | 7 Mar low | S4 | 86.0000 | * | figure |
Asterisk denotes strength of level
05:45 GMT - Gapped above the 86.4600 resistance extending rally from the 84.9575 low. Higher will see room to the strong resistance at the 86.8725, 7 March low. Deep overbought intraday studies suggest reaction here likely to correct rally from the 84.9575 low of last week. Break here, but not expected to open up room to the 87.3850 and 87.5300, 11 March and 28 Feb high. Meanwhile, support is raised to the 86.4600, February low. Below this will return focus to the downside to the 8 April high gap at 86.2900 and 86.1650 support.