USD/RUB 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The US Dollar is in an ascending channel pattern against the Russian Ruble, as the currency exchange rate is moving to the pattern's upper trend line. Previously, the rate rebounded against the pattern's lower trend line at 63.6280. On its way to the pattern's upper trend line the pair is set to struggle against various resistance levels, as all of the three weekly resistances are located on the way northwards at 65.4469, 66.0195 and 66.7072. In addition, the first weekly resistance is working in combination with the August's monthly pivot point at 65.3310. However, as the rate surges, it will be pushed north by the simple moving averages which are located in a cluster just below the rate, and they will move northwards together with the rate.
© Dukascopy Bank SA
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