Published: 2024-12-06T05:26:15.000Z
Chart USD/INR Update: Leaning lower in consolidation, room for deeper pullback
Technical Analyst
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Leaning lower from the 84.7575 all-time high as prices consolidate the bullish run-up from the 84.2200 low of last week
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 84.8150 | projection | S1 | 84.5850 | * | 2 Dec low | ||
| R3 | 84.8000 | figure | S2 | 84.5075 | * | 22 Nov high, gap | ||
| R2 | 84.7800 | projection | S3 | 84.4000 | * | congestion | ||
| R1 | 84.7575 | ** | 3 Dec all-time high | S4 | 84.2200 | ** | 26 Nov low |
Asterisk denotes strength of level
05:15 GMT - Leaning lower from the 84.7575 all-time high as prices consolidate the bullish run-up from the 84.2200 low of last week. Pullback see support starting at 84.5850 and extending to the 84.7075 gap area now attracting. Filling this will open up room for deeper pullback to retrace the strong gains from the September low to the 84.4000 congestion. Lower still will see scope to the strong support at 84.2200. Meanwhile, resistance at 84.7575 high now expected to cap. Break here, if seen, will extend the underlying bull trend to the 84.7800 projection target then the 84.8000 figure.