USD/RUB 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/RUB has been in the down-trend since late April when the currency pair slid into a bearish corridor, inside which it has been vacillating up to now.
At the moment, the pair is sitting not far away from the upper boundary of the tunnel. However, USD/RUB is likely to retreat from the pattern's resistance in the foreseeable future taking into account the SWFX sentiment-more than 67% of traders are bearish. If this comes true, the pair may dive to 34.4722/027 (daily S1, S2) and then to 34.3094 (daily S3); below the latter level USD/RUB is likely to commence an accelerating decline towards the lower limit of the formation.
© Dukascopy Bank SA
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