Published: 2025-04-02T05:19:07.000Z
Chart USD/INR Update: Consolidating sharp losses to 85.4000, fresh year low
Technical Analyst
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Bounce at the open see prices consolidating the sharp March losses to fresh year low at 85.4000
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 86.4600 | ** | Feb low | S1 | 85.4900 | * | 24 Mar low | |
| R3 | 86.1650 | * | 24 Jan low | S2 | 85.4000 | ** | 28 Mar YTD low | |
| R2 | 86.0000 | * | figure | S3 | 85.3100 | * | 27 Dec low | |
| R1 | 85.8075 | * | Dec high | S4 | 85.1900 | * | 61.8% Sep/Feb rally |
Asterisk denotes strength of level
05:15 GMT - Bounce at the open see prices consolidating the sharp March losses to fresh year low at 85.4000. Daily studies are oversold and suggest scope for stronger corrective bounce to resistance starting at the 85.8075, December high. Above this will see room to the 86.0000 figure then the 86.1650, 24 January low. Corrective gains is expected to give way to fresh selling pressure later and break of the 85.4900 and 85.4000 lows will further extend losses from the 87.9500 all-time high to retrace strong rally from the September low. Lower will see room to 85.3100 support then the 85.1900, 61.8% Fibonacci level.