Chart USD/RUB Update: Limited scope above 93.0000
Anticipated gains have reached congestion resistance at 93.0000
Levels | Comment | Levels | Comment | |||||
R4 | 95.4750 | ** | 23 Feb YTD high | S1 | 92.0000 | * | congestion | |
R3 | 95.0000 | ** | congestion | S2 | 91.0000 | * | congestion | |
R2 | 94.5925 | ** | 50% ret of Oct-Jan fall | S3 | 90.0000 | * | congestion | |
R1 | 93.0000 | * | congestion | S4 | 88.7500 | * | congestion |
Asterisk denotes strength of level
12:30 BST - Anticipated gains have reached congestion resistance at 93.0000, where overbought intraday studies are prompting short-term reactions. Oversold daily stochastics are unwinding and the daily Tension Indicator is turning up, suggesting room for further strength in the coming sessions. A close above here will help to improve sentiment and open up resistance within the 94.5925 Fibonacci retracement and congestion around 95.0000. However, negative weekly charts are expected to limit any immediate tests in fresh consolidation. Meanwhile, a break back below 92.0000 will turn sentiment neutral once again and prompt fresh range trade above 91.0000.