Chart USD/RUB Update: Extending late-January gains
Anticipated gains have reached resistance at 79.0000 and the 79.1300 Fibonacci retracement
| Levels | Comment | Levels | Comment | |||||
| R4 | 80.4250 | ** | 50% ret of Sep-Jan fall | S1 | 78.0000 | * | break level | |
| R3 | 80.0000 | ** | break level | S2 | 77.5000 | * | congestion | |
| R2 | 79.1300 | * | 38.2% ret of Sep-Jan fall | S3 | 77.0000 | * | congestion | |
| R1 | 79.0000 | * | break level | S4 | 76.0000 | * | congestion |
Asterisk denotes strength of level
12:50 GMT - Anticipated gains have reached resistance at 79.0000 and the 79.1300 Fibonacci retracement, where flat overbought daily stochastics are prompting short-term reactions. The daily Tension Indicator is positive and broader weekly charts continue to improve, highlighting room for further strength in the coming sessions. A close above 79.1300 will improve sentiment and extend late-January gains towards stronger resistance at 80.0000. Beyond here is the 80.4250 retracement, where profit-taking pressure is expected to appear. Meanwhile, support is raised to the 78.0000 break level and extends to 77.5000. This range should underpin any immediate setbacks.