Chart USD/RUB Update: Consolidating - studies under pressure
Little change, as flat oversold daily stochastics keep near-term sentiment cautious and extend consolidation above support at 81.0000
| Levels | Comment | Levels | Comment | |||||
| R4 | 87.1735 | ** | 9 Apr (m) high | S1 | 81.0000 | * | break level | |
| R3 | 85.9100 | ** | 11 Sep (m) high | S2 | 80.0000 | ** | congestion | |
| R2 | 85.0000 | ** | congestion | S3 | 79.1450 | ** | 7 Aug (w) range low | |
| R1 | 84.0000 | * | congestion | S4 | 78.0000 | ** | congestion |
Asterisk denotes strength of level
12:55 BST - Little change, as flat oversold daily stochastics keep near-term sentiment cautious and extend consolidation above support at 81.0000. The daily Tension Indicator is under pressure, however, and overbought weekly stochastics are unwinding, suggesting room for fresh tests lower in the coming sessions. A break below 81.0000 will open up congestion around 80.0000. Further selling interest would turn sentiment negative and extend September losses towards strong support at the 79.1450 weekly range low of 7 August. Meanwhile, resistance remains up to congestion around 84.0000 and extends to 85.000. However, a close above the 85.9100 monthly high of 11 September is needed to turn sentiment positive and confirm continuation of July gains, initially to the 87.1735 monthly high of 9 April.