USD/RUB 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The U.S. Dollar has been drifting lower against the Russian Ruble since early spring. A rise to the highest level since at least 2008 was the starting point of this decline that pushed USD/RUB into a bearish corridor.
Considering that easing tensions over turmoil in Ukraine as well as selling pressure pertaining to the downward sloping formation are likely to persist in future, the pair probably will not be able to reverse its trend in the foreseeable future. Market players share this view – more than 85% of positions on the SWFX are short. Technical indicators also point to a possible decline in the next four hours.
© Dukascopy Bank SA
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