Published: 2025-05-29T05:01:03.000Z
Chart USD/INR Update: Still room to extend corrective bounce
Technical Analyst
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No follow-through on break above 85.5000 as prices settled into consolidation to unwind overbought intraday studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 86.7100 | ** | 9 Apr high | S1 | 85.0000 | * | congestion | |
| R3 | 86.4600 | * | Feb low | S2 | 84.7800 | ** | 26 May low | |
| R2 | 86.1025 | ** | 22 May high | S3 | 84.5000 | * | congestion | |
| R1 | 85.8425 | * | 9 May high | S4 | 84.0000 | ** | congestion |
Asterisk denotes strength of level
05:00 GMT - No follow-through on break above 85.5000 as prices settled into consolidation to unwind overbought intraday studies. However, further gains not ruled out to retest resistance at 85.8425 then the 86.1025 swing high. Gains are seen corrective of losses from the February high and expected to give way to renewed selling pressure later. Meanwhile, support is at the 85.0000 congestion and see break here needed to expose 84.7800 low to retest. Below here will return focus to the downside for retest of support at 84.5000/84.0000 congestion.