USD/RUB 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
After hitting more than a five-year high of 36.8760 in the very beginning of March, the U.S. Dollar lost its spree and started to depreciate against the Russian Ruble; the decline pushed the pair into a bearish channel.
Now USD/RUB is sitting slightly below the 200-bar SMA but considering that about 66% of all orders on the SWFX are placed to sell the pair, we may expect the currency couple to retreat from its long-term SMA in the hours to come.
© Dukascopy Bank SA
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