Chart USD/RUB Update: Cautious trade
The test above congestion resistance at 85.0000 has been pushed back from 86.5000~
| Levels | Comment | Levels | Comment | |||||
| R4 | 93.0000 | * | break level | S1 | 83.5000 | * | range lows | |
| R3 | 90.0000 | ** | congestion | S2 | 81.0300 | ** | 18 Mar YTD low | |
| R2 | 88.0000 | break level | S3 | 80.0000 | ** | congestion | ||
| R1 | 85.0000 | ** | congestion | S4 | 75.0500 | ** | 61.8% ret of 2022-2024 rally |
Asterisk denotes strength of level
13:10 BST - The test above congestion resistance at 85.0000 has been pushed back from 86.5000~, as overbought intraday studies unwind, with prices trading once again below 85.0000. Focus is on the 83.5000 range lows, but rising daily readings are expected to limit any tests in consolidation. A close beneath here, however, will add weight to sentiment and prompt a swift fall towards the 81.0300 current year low of 18 March. Meanwhile, a close above 85.0000 would turn sentiment cautiously positive and open up a test of resistance at the 88.0000 break level. However, negative weekly charts should prompt renewed selling interest towards here.