Chart USD/RUB Update: Prices remain under pressure
Anticipated losses have reached support at 102.00
| Levels | Comment | Levels | Comment | |||||
| R4 | 114.5000 | ** | 61.8% ret of 2022 fall | S1 | 102.0000 | * | recent range lows | |
| R3 | 113.6975 | * | 1 Jan (w) high | S2 | 100.0000 | ** | congestion | |
| R2 | 110.0000 | ** | historic congestion | S3 | 98.5300 | ** | 50% ret of Jun-Nov rally | |
| R1 | 105.0000 | * | break level | S4 | 98.0000 | * | congestion |
Asterisk denotes strength of level
12:45 GMT - Anticipated losses have reached support at 102.00, where unwinding oversold intraday studies are prompting short-term reactions. Daily readings continue to track lower, however, and broader weekly charts are also falling, pointing to room for still deeper losses in the coming sessions. A close below 102.0000 will add weight to sentiment and extend January losses towards 100.0000. Beneath here is the 98.5300 Fibonacci retracement, but oversold daily stochastics are expected to limit any initial tests in consolidation. Meanwihle, resistance is lowered to 105.0000. A close above here would help to stabilise price action and prompt consolidation beneath 110.0000.