Published: 2024-11-29T05:00:52.000Z
Chart USD/INR Update: Poised for retest of the 84.5075 high
Technical Analyst
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Pressure remains on the upside as prices extend bounce from the 84.2200 low to approach the 84.5075, all-time high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 84.8150 | projection | S1 | 84.4000 | * | congestion | ||
| R3 | 84.8000 | figure | S2 | 84.2200 | ** | 26 Nov low | ||
| R2 | 84.7800 | projection | S3 | 84.2000 | * | figure | ||
| R1 | 84.5075 | ** | 22 Nov all-time high | S4 | 84.1600 | * | 6 Nov low |
Asterisk denotes strength of level
05:00 GMT - Pressure remains on the upside as prices extend bounce from the 84.2200 low to approach the 84.5075, all-time high. Break here will see room for extension of the underlying bull trend to the 84.7800 projection target then the 84.8000 figure. However, weekly studies remains overbought and suggest reaction at the 84.5075 high though a later break cannot be ruled out. Meanwhile, support is raised to the 84.4000/84.3675 area which now underpin. Would take break here to ease the upside pressure and see room for pullback to retest the 84.2200 support and 84.2000 figure.