Published: 2025-01-20T12:31:24.000Z
Chart USD/RUB Update: Consolidating - room for lower in the coming sessions
Senior Technical Strategist
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Still little change
| Levels | Comment | Levels | Comment | |||||
| R4 | 110.0000 | ** | historic congestion | S1 | 102.0000 | * | recent range lows | |
| R3 | 108.0000 | * | break level | S2 | 100.0000 | ** | congestion | |
| R2 | 105.0000 | * | break level | S3 | 98.5300 | ** | 50% ret of Jun-Nov rally | |
| R1 | 103.6500 | * | 17 Jan (w) high | S4 | 98.0000 | * | congestion |
Asterisk denotes strength of level
12:20 GMT - Still little change, as prices extend consolidation around support at 102.0000. Daily readings continue to track lower and broader weekly charts are under pressure, highlighting a developing bearish tone and room for further losses in the coming sessions. A close beneath here will add weight to sentiment and extend January losses towards 100.0000. Still lower is the 98.5300 Fibonacci retracement, but by-then oversold weekly stochastics are expected to limit any initial tests in consolidation. Meanwhile, resistance is up the 103.6500 weekly high of 17 January. A break above here, if seen, should meet renewed selling interest towards 105.0000.