Chart USD/RUB Update: Choppy in range - studies edging higher
The anticipated break below congestion around 80.0000 has posted a fresh 2025 year low at 78.6250
| Levels | Comment | Levels | Comment | |||||
| R4 | 88.0000 | * | break level | S1 | 81.0300 | ** | 18 Mar (m) low | |
| R3 | 87.1735 | ** | 9 Apr (w) high | S2 | 80.0000 | ** | congestion | |
| R2 | 85.0000 | ** | congestion | S3 | 78.6250 | * | 21 Apr YTD low | |
| R1 | 83.5000 | * | congestion | S4 | 78.5000 | * | historic congestion |
Asterisk denotes strength of level
15:05 BST - The anticipated break below congestion around 80.0000 has posted a fresh 2025 year low at 78.6250, before bouncing sharply to pressure congestion resistance at 83.5000. Bearish daily readings are flattening and negative weekly charts are also attempting to stabilise, suggesting an improvement in sentiment and room for further strength in the coming sessions. A close above 83.5000 will open up further congestion around 85.0000. But a close above the 87.1735 weekly high of 9 April is needed to confirm a near-term low in place at 78.6250 and extend gains towards 88.0000. Meanwhile, a close below the 81.0300 monthly low of 18 March will add weight to sentiment. But a further close below 78.6250 is needed to confirm continuation of December 2024 losses, initially to 78.5000.