Chart USD/RUB Update: Choppy in range
The anticipated test above congestion at 83.5000 has been pushed back from beneath further congestion around 85.0000
| Levels | Comment | Levels | Comment | |||||
| R4 | 88.0000 | * | break level | S1 | 81.0300 | ** | 18 Mar (m) low | |
| R3 | 87.1735 | ** | 9 Apr (w) high | S2 | 80.0000 | ** | congestion | |
| R2 | 85.0000 | ** | congestion | S3 | 78.6250 | * | 21 Apr YTD low | |
| R1 | 83.5000 | * | congestion | S4 | 78.5000 | * | historic congestion |
Asterisk denotes strength of level
14:10 BST - The anticipated test above congestion at 83.5000 has been pushed back from beneath further congestion around 85.0000, with prices currently trading around the 81.0300 monthly low of 18 March. Mixed daily and weekly readings suggest potential for further consolidation around here. But longer-term charts are bearish, pointing to room for a later break towards the 78.6250 current year low of 21 April. A close beneath here would turn sentiment outright negative and confirm continuation of broad November losses. Meanwhile, resistance within the 83.5000 - 85.0000 range should cap any immediate tests higher.