EUR/RUB: The 61.8% Fibonacci retracement is seen at 76.03 – Commerzbank
|EUR/RUB slips towards the 79.02 April low below which the 61.8% Fibonacci retracement is seen at 76.03
Key quotes
“Minor support below the 79.02 late April low is seen at the 50% retracement at 78.61. Then there is no support to speak of until the 61.8% Fibonacci retracement at 76.03 and the March 2 high at 75.02.”
“Minor resistance can be spotted between the late April and current May highs at 83.51/84.31. Above 84.31 sits the 86.50 March 9 high. More important resistance can be seen at the 89.09/56 late March highs.”
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