Published: 2025-01-13T12:35:51.000Z
Chart USD/RUB Update: Limited tests higher
Senior Technical Strategist
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Consolidation around support at 102.00 is giving way to a minor bounce
| 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
12:30 GMT - Consolidation around support at 102.00 is giving way to a minor bounce, as intraday studies turn higher and oversold daily stochastics attempt to flatten. Resistance is up to the 105.00 break level, but the negative daily Tension Indicator and bearish weekly charts are expected to limit any tests in renewed selling interest. Following cautious trade, fresh losses are looked for. A close back below 102.00 will add weight to sentiment and extend January losses towards 100.0000. Beneath here is the 98.5300 Fibonacci retracement, but by-then oversold weekly stochastics are expected to limit any initial tests in consolidation.