Chart USD/RUB Update: Limited tests higher
Anticipated losses have met buying interest above congestion support at 78.0000
| Levels | Comment | Levels | Comment | |||||
| R4 | 85.9100 | ** | 11 Sep (m) high | S1 | 80.0000 | ** | congestion | |
| R3 | 85.0000 | ** | congestion | S2 | 78.2270 | * | 15 Oct low | |
| R2 | 84.0000 | * | congestion | S3 | 78.0000 | ** | congestion | |
| R1 | 82.0000 | ** | congestion | S4 | 76.9000 | ** | 76.4% ret of Jul-Sep rally |
Asterisk denotes strength of level
12:55 BST - Anticipated losses have met buying interest above congestion support at 78.0000, with prices bouncing steadily from 78.2270 as oversold daily stochastics unwind. Immediate focus is on congestion resistance at 82.0000. A break above here will open up further congestion within 84.0000 - 85.0000. But negative weekly charts should prompt renewed selling interest towards here and limit any tests in consolidation. Following corrective/cautious trade, fresh losses are looked for. A break back below congestion support at 80.0000 will open up 78.0000.A further close beneath here will add weight to sentiment and extend September losses towards the 76.9000 Fibonacci retracement, where short-covering/consolidation is expected to appear.