USD/RUB 1H Chart: Upside momentum likely

Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The Russian Ruble is continuing to depreciate against the US Dollar in the medium-term ascending channel.  

The USD/RUB currency pair has been trying to surpass the local support level at 66.20 since the end of November. At the same time the pair has been facing strong resistance—the Fibonacci 23.00% at 67.14. 

Technical indicators for the 1W time frame suggest that the pair breaches given resistance and targets the upper channel line located circa 69.00. 

It is the unlikely case that some bearish momentum prevails, and the exchange rate should not breach given channel south.

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