USD/RUB 1H Chart: Rate approached June high

Source: Dukascopy Bank SA

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

The USD/RUB exchange rate has been bounded in a symmetrical triangle since early April. The pair managed to remain in this pattern for several weeks prior to breaking to the upside late last week. As a result, the Greenback continued to trade in a six-week ascending triangle. 

The US Dollar reached a June peak against the Russian Ruble at 64.16 earlier this week—a level which have already provided strong resistance. 

From theoretical point of view, the rate should edge lower during the following days to retrace from the breached triangle pattern near 62.50. This support level is likewise strengthened by the monthly PP and the 55– and 100-period (4H) SMAs. 

However, the 55-hour SMA might guide the pair higher for a brief period of time and above the aforementioned June high before the expected decline takes place.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.