Published: 2024-05-16T11:44:20.000Z
Chart USD/RUB Update: Leaning lower
Senior Technical Strategist
-
The anticipated test below 91.0000 has bounced from congestion around 90.0000
Levels | Comment | Levels | Comment | |||||
R4 | 95.0000 | ** | congestion | S1 | 91.0000 | * | congestion | |
R3 | 94.5925 | ** | 50% ret of Oct-Jan fall | S2 | 90.0000 | ** | congestion | |
R2 | 93.0000 | * | congestion | S3 | 88.7500 | * | congestion | |
R1 | 92.0000 | * | congestion | S4 | 88.0000 | * | congestion |
Asterisk denotes strength of level
12:30 BST - The anticipated test below 91.0000 has bounced from congestion around 90.0000, with prices currently trading just beneath 91.0000. Daily readings continue to point lower and broader weekly charts are under pressure, highlighting room for fresh losses in the coming sessions. A close below 90.0000 will turn sentiment outright negative and extend February losses initially towards 88.7500. Meanwhile, resistance remains at 92.0000. An unexpected close above here would turn price action neutral and prompt range trade beneath 93.0000.