Chart USD/RUB Update: Consolidating - background studies improving
Little change, as prices extend cautious trade beneath resistance at the 78.4600 Fibonacci retracement
| Levels | Comment | Levels | Comment | |||||
| R4 | 80.0000 | ** | break level | S1 | 77.5000 | ** | congestion | |
| R3 | 79.4900 | * | 1 Jul (w) high | S2 | 75.8000 | * | congestion tops | |
| R2 | 78.8900 | * | 17-21 Jul (w) high | S3 | 75.0000 | ** | congestion | |
| R1 | 78.4600 | ** | 50% ret of Mar-May fall | S4 | 74.0000 | * | congestion |
Asterisk denotes strength of level
12:25 BST - Little change, as prices extend cautious trade beneath resistance at the 78.4600 Fibonacci retracement. Daily stochastics and the daily Tension Indicator are under pressure, suggesting room for a test of congestion support at 77.5000. But rising weekly charts should limit any break in renewed buying interest/consolidation above 75.8000. Following cautious/corrective trade, fresh gains are looked for. However, a close above the 79.4900 weekly high of 1 July is needed to improve sentiment and confirm continuation of May gains, initially towards resistance at the 80.0000 break level and the 80.4600 Fibonacci retracement.