Chart USD/RUB Update: Choppy trade - studies improving
Little change, as prices extend pressure on resistance at the 80.7250 Fibonacci retracement and congestion around 81.0000
| Levels | Comment | Levels | Comment | |||||
| R4 | 82.0000 | ** | congestion | S1 | 80.0000 | ** | congestion | |
| R3 | 81.9500 | ** | 61.8% ret of Sep-Dec fall | S2 | 79.0000 | * | recent lows | |
| R2 | 81.0000 | * | congestion | S3 | 77.5000 | * | congestion | |
| R1 | 80.7250 | * | 50% ret of Sep-Dec fall | S4 | 75.5400 | ** | 5 Dec (w) low |
Asterisk denotes strength of level
12:55 GMT - Little change, as prices extend pressure on resistance at the 80.7250 Fibonacci retracement and congestion around 81.0000. Daily readings have ticked higher and broader weekly charts continue to improve, highlighting room for further strength in the coming sessions. A close above 80.7250 will improve sentiment and extend December gains towards stronger resistance at the 81.9500 retracement and further congestion around 82.0000. Already overbought daily stochastics could limit any initial tests in consolidation/profit-taking. Meanwhile, support is raised to congestion around 80.0000. But a close below 79.0000 would add weight to sentiment and prompt a deeper pullback towards congestion around 77.5000.