Chart USD/RUB Update: Consolidating early gains - studies improving
Anticipated gains have reached 78.4900, where sharp selling interest is pushing prices back to congestion support at 77.5000
| Levels | Comment | Levels | Comment | |||||
| R4 | 80.0000 | ** | break level | S1 | 77.5000 | * | congestion | |
| R3 | 79.0000 | * | break level | S2 | 77.0000 | * | congestion | |
| R2 | 78.4900 | * | 3 Mar high | S3 | 76.0000 | * | congestion | |
| R1 | 78.0000 | * | break level | S4 | 75.0500 | ** | 61.8% ret of 2022-2024 rally |
Asterisk denotes strength of level
13:10 GMT - Anticipated gains have reached 78.4900, where sharp selling interest is pushing prices back to congestion support at 77.5000. Daily stochastics are flat in overbought areas, suggesting room for consolidation, before the positive daily Tension Indicator and improving weekly charts prompt further gains. A close above resistance at 78.0000 will improve price action, and extend late-January gains beyond 78.4900 towards 79.0000. Still higher is stronger resistance at 80.0000, where profit-taking/consolidation could appear. Meanwhile, a close below 77.5000, if seen, will turn sentiment neutral and prompt consolidation above further congestion around 77.0000.