Chart USD/RUB Update: Limited tests higher
The anticipated break above 90.0000 has reached 90.9750
| Levels | Comment | Levels | Comment | |||||
| R4 | 95.0000 | ** | congestion | S1 | 90.0000 | ** | congestion | |
| R3 | 93.8500 | ** | 13 Aug (m) high | S2 | 88.0000 | * | congestion | |
| R2 | 92.4200 | ** | 76.4% ret of Feb-Jun fall | S3 | 86.5000 | * | break level | |
| R1 | 92.0000 | ** | congestion | S4 | 85.0000 | * | congestion |
Asterisk denotes strength of level
12:55 BST - The anticipated break above 90.0000 has reached 90.9750, where overbought intraday studies are prompting short-term reactions. Oversold daily stochastics are unwinding, suggesting room for continuation towards congestion resistance at 92.0000. However, the bearish daily Tension Indicator and mixed weekly charts are expected to limit any immediate break in consolidation beneath the 92.4200 Fibonacci retracement. A close above here, however, will turn sentiment positive and open up a test of the 93.8500 monthly high of 13 August. Meanwhile, a test back below 90.0000, if seen, will turn sentiment neutral once again and prompt consolidation above further congestion around 88.0000.