Chart USD/RUB Update: Consolidating - background studies negative
The bounce from the 81.0300 current year low of 18 March is giving way to consolidation beneath congestion resistance at 85.0000
| Levels | Comment | Levels | Comment | |||||
| R4 | 93.0000 | * | break level | S1 | 83.0000 | minor break level | ||
| R3 | 90.0000 | ** | congestion | S2 | 81.0300 | ** | 18 Mar YTD low | |
| R2 | 88.0000 | break level | S3 | 80.0000 | ** | congestion | ||
| R1 | 85.0000 | ** | congestion | S4 | 75.0500 | ** | 61.8% ret of 2022-2024 rally |
Asterisk denotes strength of level
12:05 GMT - The bounce from the 81.0300 current year low of 18 March is giving way to consolidation beneath congestion resistance at 85.0000. The daily Tension Indicator has ticked higher, suggesting room for a test above here. But flat daily stochastics and negative weekly charts should limit scope in renewed selling interest beneath the 88.0000 break level. Following cautious trade, fresh losses are looked for, with later focus to turn back to 81.0300. A close beneath here will add weight to sentiment and extend November losses below 80.0000 towards the 75.0500 Fibonacci retracement.