Published: 2024-12-10T12:46:37.000Z
Chart USD/RUB Update: Gains to remain limited
Senior Technical Strategist
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Anticipated losses have extended to the 98.5300 Fibonacci retracement
| Levels | Comment | Levels | Comment | |||||
| R4 | 114.5325 | ** | 27 Nov YTD high | S1 | 100.0000 | ** | congestion | |
| R3 | 114.5000 | ** | 61.8% ret of 2022 fall | S2 | 98.5300 | ** | 50% ret of Jun-Nov rally | |
| R2 | 110.0000 | ** | historic congestion | S3 | 98.5000 | * | break level | |
| R1 | 105.0000 | * | break level | S4 | 95.0000 | ** | congestion |
Asterisk denotes strength of level
12:30 GMT - Anticipated losses have extended to the 98.5300 Fibonacci retracement, where oversold daily stochastics are prompting a sharp bounce. The break above 100.0000 has opened up potential for a test of resistance at the 105.00 break level. But the falling daily Tension Indicator and bearish weekly charts should limit any tests in renewed selling interest. Following any corrective gains, fresh losses are looked for. However, a close below 98.5300 and the 98.5000 break level is needed to confirm continuation of late-November losses and open up 95.0000.