Chart USD/RUB Update: Corrective gains to remain limited
The anticipated continuation of November losses has reached 87.3250
| Levels | Comment | Levels | Comment | |||||
| R4 | 96.5000 | * | congestion | S1 | 86.6250 | * | 3 Sep (m) low | |
| R3 | 95.0000 | * | break level | S2 | 85.0000 | ** | congestion | |
| R2 | 93.0000 | * | break level | S3 | 82.5300 | ** | Jun 2024 (y) low | |
| R1 | 90.0000 | ** | congestion | S4 | 80.0000 | ** | congestion |
Asterisk denotes strength of level
12:00 GMT - The anticipated continuation of November losses has reached 87.3250, where unwinding oversold intraday studies are prompting short-covering. Focus is turning to congestion resistance at 90.0000, but negative daily readings are expected to limit any tests in renewed selling interest. A close above here, however, would help to further stabilise price action and prompt consolidation beneath the 93.0000 break level. Following cautious trade, fresh losses are looked for. A break below 86.6250 will add weight to sentiment and open up congestion around 85.0000. Beneath here is stronger support at the 82.5300 year low of June 2024, where oversold weekly stochastics could prompt short-covering/consolidation.