USD/RUB 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since the last week of February, the US Dollar has been trading under unexpected bearish pressure against the Russian Rouble. Moreover, in case USD/RUB currency pair continues following two downward-sloping trend-line, we may soon observe a slump below the 49.40 mark, currently the 2015 low. Most of the selling pressure should be created by monthly S2, weekly PP and 55-period SMA around 51.80. Potential sell-offs should be extended down to the next monthly support line at 47.90 in the medium-term. However, there the pair will meet the weekly S2, which may help the Buck to rebound. Meanwhile, 72% of SWFX market participants are still bullish on the American Dollar.
© Dukascopy Bank SA
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