Chart USD/RUB Update: Lower towards strong support
Cautious trade has given way to the anticipated break below 80.0000
| Levels | Comment | Levels | Comment | |||||
| R4 | 85.0000 | ** | congestion | S1 | 78.2270 | ** | 15 Oct (m) low | |
| R3 | 84.0000 | * | congestion | S2 | 78.0000 | ** | congestion | |
| R2 | 82.0000 | ** | congestion | S3 | 76.9000 | ** | 76.4% ret of Jul-Sep rally | |
| R1 | 80.0000 | ** | congestion | S4 | 75.0500 | ** | 61.8% ret of 2022-2024 rally |
Asterisk denotes strength of level
12:30 GMT - Cautious trade has given way to the anticipated break below 80.0000, with prices reaching 78.5700~ before consolidating. Daily readings continue to track lower and broader weekly charts are under pressure, highlighting room for further losses in the coming sessions. However, a close below strong support at the 78.2270 monthly low of 15 October and congestion around 78.0000 is needed to turn sentiment negative and extend September losses towards the 76.9000 Fibonacci retracement. Meanwhile, a close back above congestion resistance at 80.0000, if seen, will turn sentiment neutral and prompt fresh consolidation beneath further congestion around 82.0000.