Chart USD/RUB Update: Range extension - studies leaning lower
Still little change, as prices extend cautious trade within the 80.0000 - 81.0000 range
| 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
12:25 BST - Still little change, as prices extend cautious trade within the 80.0000 - 81.0000 range. Daily stochastics are turning lower and the flat daily Tension Indicator is also coming under pressure, suggesting room for a test lower. A break below congestion support will open up the 79.1450 range low of 7 August. But mixed weekly and longer-term charts are expected to limit any initial tests in consolidation. A close beneath here, however, would turn sentiment negative and extend late-July losses towards congestion around 78.0000. Meanwhile, a close above resistance at 81.0000 would improve sentiment and open up the 82.6100 monthly high of 29 July., where mixed weekly charts could prompt fresh consolidation/profit-taking.