Published: 2025-03-13T12:37:02.000Z
Chart USD/RUB Update: Consolidating - background studies under pressure
Senior Technical Strategist
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Little change, as prices extend consolidation above support at congestion around 85.0000
| Levels | Comment | Levels | Comment | |||||
| R4 | 95.0000 | * | break level | S1 | 85.1150 | * | 11 Mar YTD low | |
| R3 | 93.0000 | * | break level | S2 | 85.0000 | ** | congestion | |
| R2 | 90.0000 | ** | congestion | S3 | 82.5300 | ** | Jun 2024 (y) low | |
| R1 | 88.0000 | break level | S4 | 80.0000 | ** | congestion |
Asterisk denotes strength of level
12:30 GMT - Little change, as prices extend consolidation above support at congestion around 85.0000. Negative daily readings are flattening, suggesting potential for further sideways trade, before bearish weekly charts prompt fresh losses. A close below 85.0000 will turn sentiment negative and extend November losses towards the 82.5300 year low of June 2024. Further slippage will confirm a deeper correction of the 2022-2024 gains. Meanwhile, a close back above resistance at 88.0000 would stabilise price action and prompt consolidation beneath congestion around 90.0000.