USD/RUB 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/RUB performed a three-month long decline ended late May that took the instrument to a four-month low of 34.0136. However, after attaining this low, the currency couple was unwilling to extend its losses and commenced a climb that has been developing inside a 100-bar long channel up pattern.
Considering the SWFX sentiment, the pair is likely to trade lower in the hours to come, meaning that it may slide below the lower limit of the formation, near which it is sitting now. Technical data also points to a possible drop in the next four hours.
© Dukascopy Bank SA
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