Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Sell | Sell | Buy |
RSI (14) | Neutral | Neutral | Neutral |
Stochastic (5; 3) | Neutral | Neutral | Neutral |
Alligator (13; 8; 5) | Sell | Sell | Buy |
SAR (0.02; 0.2) | Sell | Sell | Sell |
Aggregate | ⇘ | ⇘ | ⇒ |
The Russian Ruble has been appreciating against the US Dollar after the currency pair reversed from the resistance level formed by a combination of the monthly PP and the Fibonacci 23.00% at 67.13. This movement has been bounded in a falling wedge.
As apparent on the chart, a breakout from the pattern should occur in the nearest future. From a theoretical point of view, the exchange rate should break given wedge north and surge towards the 66.40/66.80 range.
However, technical indicators suggest that expected advance might not be immediate, and the pair could decline to the support level formed by the Fibonacci 38.20% at 64.86.