USD/RUB 1H Chart: Downside potential

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)SellBuyBuy
Aggregate

USD/RUB is currently finishing formation of the second top of the double top pattern the currency pair has been forming since the beginning of August.  

The currency pair is now facing a critical demand zone circa 65.50 rubles. In case this support is eroded, the risks will be heavily skewed to the downside. While the height of the pattern implies a quick dive to a 64 mark, we expect consolidation after a test of the 65.00/64.50 area. This cluster consists of 200-period SMA, monthly pivot, and the 38.2% Fibo retracement of the 2018 rally.

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