USD/RUB 1H Chart: Upside potential could prevail

Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuySellBuy
RSI(14)SellNeutralNeutral
Stochastic(5;3;3)SellSellNeutral
Alligator(13;8;5)BuyNeutralNeutral
SAR(0.02;0.2)BuyBuySell
Aggregate

The USD/RUB currency pair has been extending gains gradually since the beginning of June after it reversed north from the 68.00 level.  

Given that the exchange rate is supported by the 55-, 100– and 200-hour moving averages, it is likely that some upside potential could continue to prevail in the market. A possible upside target is the Fibo 23.60% at 75.68.  

Meanwhile, note that the currency pair would have to exceed the Fibo 38.20% at 71.85. If the given level holds, it is likely that the pair could consolidate in the medium term.

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