Chart USD/RUB Update: Gains to remain limited
Cautious trade has given way to a break above 80.0000, with prices currently balanced in fresh consolidation around 80.6900
| Levels | Comment | Levels | Comment | |||||
| R4 | 85.9100 | ** | 11 Sep (m) high | S1 | 80.0000 | ** | congestion | |
| R3 | 85.0000 | ** | congestion | S2 | 78.2270 | ** | 15 Oct (m) low | |
| R2 | 84.0000 | * | congestion | S3 | 78.0000 | ** | congestion | |
| R1 | 82.0000 | ** | congestion | S4 | 76.9000 | ** | 76.4% ret of Jul-Sep rally |
Asterisk denotes strength of level
12:15 GMT - Cautious trade has given way to a break above 80.0000, with prices currently balanced in fresh consolidation around 80.6900. Daily readings are rising, highlighting room for a test of congestion resistance at 82.0000. But negative weekly charts are expected to limit any further gains in consolidation/selling interest beneath further congestion around 84.0000. Following corrective trade, fresh losses are looked for. Support is at congestion around 80.0000. But a close below the However, a close below the 78.2270 monthly low of 15 October and congestion around 78.0000 is needed to turn sentiment negative and extend September losses initially towards the 76.9000 Fibonacci retracement.