Chart USD/RUB Update: Edging higher
Cautious trade is giving way to a test higher
| Levels | Comment | Levels | Comment | |||||
| R4 | 85.0000 | ** | congestion | S1 | 80.0000 | ** | congestion | |
| R3 | 83.5000 | * | congestion | S2 | 79.1450 | ** | 7 Aug (w) range low | |
| R2 | 82.6100 | ** | 29 Jul (m) high | S3 | 78.0000 | congestion lows | ||
| R1 | 81.0000 | * | break level | S4 | 75.0500 | ** | 61.8% ret of 2022-2024 rally |
Asterisk denotes strength of level
13:10 BST - Cautious trade is giving way to a test higher, with prices currently pressuring levels just above resistance at 81.00. Daily stochastics are rising and the flat daily Tension Indicator is showing early signs of improvement, suggesting room for fresh gains in the coming sessions. Immediate resistance is at the 81.5900 high of 31 July. But mixed weekly charts are expected to limit any break above here in consolidation/selling interest towards critical resistance at the 82.6100 monthly high of 29 July. Meanwhile, support remains at congestion around 80.0000. A close beneath here if seen, should be limited in renewed consolidation above strong support at the 79.1450 weekly range low of 7 August.