Chart USD/RUB Update: Fresh 2024 year high
Choppy trade above congestion support at 96.0000 has given way to a test above congestion resistance at 100.0000
| Levels | Comment | Levels | Comment | |||||
| R4 | 102.5500 | ** | 9 Oct 2023 (y) high | S1 | 98.0000 | * | break level | |
| R3 | 102.4500 | ** | 50% ret of 2022 fall | S2 | 96.0000 | ** | congestion | |
| R2 | 100.7260 | fresh year high | S3 | 94.0000 | * | break level | ||
| R1 | 100.0000 | ** | congestion | S4 | 92.0000 | ** | congestion |
Asterisk denotes strength of level
13:15 BST - Choppy trade above congestion support at 96.0000 has given way to a test above congestion resistance at 100.0000, with prices posting a fresh 2024 year high around 100.7260 before settling into fresh consolidation beneath 100.0000. Daily readings have ticked higher, suggesting room for continuation of June gains towards the 102.4500 Fibonacci retracement. Still higher is critical resistance at the 102.55 year high of 9 October 2023, but already overbought weekly stochastics are expected to limit any initial tests of this broad area in consolidation, before positive longer-term studies prompt a break. Meanwhile, support is at the 98.0000 break level. A close beneath here will turn sentiment neutral and prompt fresh consolidation above 96.0000.