Published: 2024-10-30T05:47:30.000Z
Chart USD/INR Update: Consolidating test of the 84.0850 high
Technical Analyst
1
Little change, as prices extend consolidation below the 84.0850, all-time high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 84.4900 | projection | S1 | 83.9850 | * | Sep high | ||
| R3 | 84.2660 | projection | S2 | 83.9000 | * | congestion | ||
| R2 | 84.1000 | * | figure | S3 | 83.8000 | * | congestion | |
| R1 | 84.0850 | ** | 28 Oct all-time high | S4 | 83.7550 | ** | 20 Aug low |
Asterisk denotes strength of level
05:35 GMT - Little change, as prices extend consolidation below the 84.0850, all-time high. However, pressure remains on the upside and further gains to extend the bullish run-up from the 83.4400 low of September cannot be ruled out. Higher will see scope for extension to 84.1000 figure. Beyond this will see scope to projection target at 84.2660 then the 84.4900 level. Meanwhile, support remains at the 84.0000/83.9850, congestion and September high. Break here will see room for deeper pullback to the 83.9000 congestion then the strong support at the 83.8000/83.7550 area.