Published: 2024-05-07T11:35:52.000Z
Chart USD/RUB Update: Consolidating - background studies under pressure
Senior Technical Strategist
1
Little change, as flattening oversold daily stochastics keep near-term sentiment cautious
Levels | Comment | Levels | Comment | |||||
R4 | 95.0000 | ** | congestion | S1 | 91.0000 | * | congestion | |
R3 | 94.5925 | ** | 50% ret of Oct-Jan fall | S2 | 90.0000 | * | congestion | |
R2 | 93.0000 | * | congestion | S3 | 88.7500 | * | congestion | |
R1 | 92.0000 | * | congestion | S4 | 88.0000 | * | congestion |
Asterisk denotes strength of level
12:30 BST - Little change, as flattening oversold daily stochastics keep near-term sentiment cautious and prompt consolidation above congestion support at 91.0000, The daily Tension Indicator continues to track lower and broader weekly charts are also under pressure, highlighting a deterioration in sentiment and room for further losses in the coming sessions. However, a close below 90.0000 is needed to confirm a near-term top in place at the 95.4750 current year high of 23 February, and extend February losses towards support within 88.0000 - 88.7500. Meanwhile, any tests above 92.0000 should meet fresh selling interest towards 93.0000.