Chart USD/RUB Update: Leaning lower
Cautious trade beneath the 82.6100 monthly high of 29 July is giving way to a pullback
| Levels | Comment | Levels | Comment | |||||
| R4 | 87.1735 | * | 9 Apr (w( high | S1 | 81.0000 | * | break level | |
| R3 | 85.0000 | ** | congestion | S2 | 80.0000 | ** | congestion | |
| R2 | 83.5000 | * | congestion | S3 | 78.0000 | congestion lows | ||
| R1 | 82.6100 | * | 29 Jul (m) high | S4 | 75.0500 | ** | 61.8% ret of 2022-2024 rally |
Asterisk denotes strength of level
13:00 BST - Cautious trade beneath the 82.6100 monthly high of 29 July is giving way to a pullback, with prices currently trading within the 80.0000 - 81.0000 support area. Overbought daily stochastics are unwinding and the positive daily Tension Indicator is flattening, highlighting a deterioration in sentiment and room for deeper losses in the coming sessions. A break below 80.0000 will add weight to sentiment and open up congestion lows around 78.0000. However, rising weekly charts should limit any initial tests in fresh consolidation. Following corrective trade, fresh gains are looked for. But a close above 82.6100 is needed to turn sentiment positive and confirm continuation of July gains.