Chart USD/RUB Update: Consolidating gains
Anticipated gains have tested above congestion resistance at 74.0000, with prices reaching 74.6400 before settling lower into consolidation around 73.6500
| Levels | Comment | Levels | Comment | |||||
| R4 | 76.4750 | ** | 38.2% ret of Mar-May fall | S1 | 73.0000 | * | break level | |
| R3 | 75.8000 | * | congestion tops | S2 | 72.5000 | * | break level | |
| R2 | 75.0000 | ** | congestion | S3 | 71.0000 | * | congestion | |
| R1 | 74.0000 | * | congestion | S4 | 70.0350 | ** | 20 May YTD low |
Asterisk denotes strength of level
13:05 BST - Anticipated gains have tested above congestion resistance at 74.0000, with prices reaching 74.6400 before settling lower into consolidation around 73.6500. Daily stochastics are flat in overbought areas, suggesting potential for further range trade, before the positive daily Tension Indicator and improving weekly charts prompt further gains. A close above 74.0000 will improve sentiment and extend May gains initially towards the 75.8000 congestion tops. Meanwhile, support is raised to 73.0000 and extends to 72.5000. A close beneath here, if seen, will add weight to sentiment and open up congestion around 71.0000, where fresh consolidation is expected to appear.