Chart USD/RUB Update: Consolidating - studies under pressure
Little change, as flat oversold daily stochastics keep near-term sentiment cautious
| Levels | Comment | Levels | Comment | |||||
| R4 | 86.8900 | ** | 19 Mar YTD high | S1 | 81.0000 | * | congestion lows | |
| R3 | 86.0000 | * | congestion | S2 | 80.3440 | * | 24 Mar low | |
| R2 | 84.0000 | * | congestion | S3 | 80.0000 | * | break level | |
| R1 | 82.0000 | ** | congestion | S4 | 79.5000 | ** | 61.8% ret of Jan-Mar rally |
Asterisk denotes strength of level
12:30 GMT - Little change, as flat oversold daily stochastics keep near-term sentiment cautious and prompt consolidation within the 81.0000 - 82.0000 range. The daily Tension Indicator continues to track lower and overbought weekly stochastics are unwinding, highlighting room for fresh losses in the coming sessions. A close below 81.0000 will add weight to sentiment and extend mid-March losses below 80.0000 towards the 79.5000 Fibonacci retracement. Oversold daily stochastics could prompt short-covering/consolidation around here. Meanwhile, a close above congestion resistance at 82.0000, if seen, would help to stabilise sentiment and prompt consolidation beneath further congestion around 84.0000.